Exhibit 99.1

Arrow Electronics Reports Record Quarterly and Annual Earnings Per Share

-- FOURTH QUARTER NON-GAAP EARNINGS PER SHARE OF $1.29 --

-- FOURTH QUARTER CASH FLOW FROM OPERATIONS IN EXCESS OF $460 MILLION --

MELVILLE, N.Y.--(BUSINESS WIRE)--February 2, 2011--Arrow Electronics, Inc. (NYSE:ARW) today reported fourth-quarter 2010 net income of $157.9 million ($1.37 and $1.34 per share on a basic and diluted basis, respectively) on sales of $5.24 billion, compared with net income of $63.1 million ($.53 and $.52 per share on a basic and diluted basis, respectively) on sales of $4.20 billion in the fourth quarter of 2009. Cash flow from operations for the quarter ended December 31, 2010 was $462 million.

Arrow’s net income for 2010 was $479.6 million ($4.06 and $4.01 per share on a basic and diluted basis, respectively) on sales of $18.74 billion, compared with net income of $123.5 million ($1.03 per share on both a basic and diluted basis) on sales of $14.68 billion in 2009. Cash flow from operations for the year ended December 31, 2010 was $221 million.

The company's results for 2010 and 2009 include a number of items that impact their comparability. A complete reconciliation of these items is provided under the heading “Certain Non-GAAP Financial Information.” Excluding those items, on a non-GAAP basis, net income for the quarter ended December 31, 2010, would have been $151.6 million ($1.31 and $1.29 per share on a basic and diluted basis, respectively) and net income for the quarter ended December 31, 2009, would have been $77.5 million ($.65 and $.64 per share on a basic and diluted basis, respectively). For 2010, net income would have been $493.5 million ($4.18 and $4.13 per share on a basic and diluted basis, respectively) and $202.5 million ($1.69 and $1.68 per share on a basic and diluted basis, respectively) for 2009.

“We finished 2010 with a very strong close, reporting record revenue and earnings per share and extremely strong cash flow generation in a period of substantial growth,” said Michael J. Long, chairman, president, and chief executive officer. “Our organic strategy is simple – gain profitable market share, optimize gross profit and increase operational efficiency; and our M&A strategy is to expand our services portfolio and increase our addressable market. We have been successful in all of these areas throughout 2010, which has resulted in enhanced shareholder value.”

“Our results clearly demonstrate that we emerged from the downturn as an even stronger company,” said Paul J. Reilly, executive vice president, finance and operations and chief financial officer. “Going forward, we expect to continue to deliver strong results as we gain share in the markets we serve, create opportunities for Arrow in new markets, and execute on our sales excellence strategy.”

Global components fourth quarter sales of $3.34 billion increased 29 percent year over year. “In global components, our teams in every region continue to maximize our global reach and leverage our unmatched technology line card, while continually improving go-to-market efficiency. Over the last 12 months, we saw exceptionally strong sales growth in all regions. During this time, we also experienced noteworthy expansion in key vertical markets and again demonstrated good improvements in our working capital management,” Mr. Long said.

Global enterprise computing solutions (“ECS”) fourth quarter sales of $1.89 billion increased 18 percent year over year. “In the face of challenging market conditions at the beginning of the year, the ECS team delivered strong performance in 2010 and had an exceptional fourth quarter. There is no question that growth has returned to this business and we are well positioned heading into 2011. By gaining market share, expanding our line card, and acquiring strategic businesses, ECS is transforming its business model into one with a more dynamic and diversified customer and supplier base,” Mr. Long said.

The company's results for 2010 and 2009 include the items outlined below that impact their comparability:

• restructuring, integration, and other charges of $6.1 million ($5.5 million net of related taxes or $.05 per share on both a basic and diluted basis) in the fourth quarter of 2010 and $24.7 million ($14.5 million net of related taxes or $.12 per share on a both basic and diluted basis) in the fourth quarter of 2009;
• restructuring, integration, and other charges of $33.5 million ($24.6 million net of related taxes or $.21 per share on both a basic and diluted basis) in 2010 and $105.5 million ($75.7 million net of related taxes or $.63 per share on a both basic and diluted basis) in 2009;
• a net reduction of the provision for income taxes of $9.4 million ($.08 per share on a basic and diluted basis, respectively) and a reduction in interest expense of $3.8 million ($2.3 million net of related taxes or $.02 per share on both a basic and diluted basis) in the fourth quarter and full year 2010 primarily related to the settlement of certain income tax matters covering multiple years; and
• a loss on prepayment of debt of $1.6 million ($1.0 million net of related taxes or $.01 per share on both a basic and diluted basis) in 2010 and $5.3 million ($3.2 million net of related taxes or $.03 per share on both a basic and diluted basis) in 2009.

GUIDANCE

“Looking ahead, we believe that total first quarter sales will be between $4.75 and $5.15 billion, with global components sales between $3.55 and $3.75 billion and global enterprise computing solutions sales between $1.2 and $1.4 billion. Earnings per share, on a diluted basis, excluding any charges, are expected to be in the range of $1.06 to $1.16,” said Mr. Reilly. The company’s first quarter guidance does not include the pending acquisition of the RF, Wireless & Power Division of Richardson Electronics, Ltd.

Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for over 1,200 suppliers and 115,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 340 locations in 52 countries.

Certain Non-GAAP Financial Information

In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles (“GAAP”), the company provides certain non-GAAP financial information relating to operating income, net income attributable to shareholders and net income per basic and diluted share, each as adjusted for certain charges, credits and losses that the company believes impact the comparability of its results of operations. These charges, credits and losses arise out of the company’s efficiency enhancement initiatives, acquisitions, prepayment of debt, and certain legal and tax matters. A reconciliation of the company’s non-GAAP financial information to GAAP is set forth in the table below.

The company believes that such non-GAAP financial information is useful to investors to assist in assessing and understanding the company’s operating performance and underlying trends in the company’s business because management considers the charges, credits and losses referred to above to be outside the company’s core operating results. This non-GAAP financial information is among the primary indicators management uses as a basis for evaluating the company’s financial and operating performance. In addition, the company’s Board of Directors may use this non-GAAP financial information in evaluating management performance and setting management compensation.

The presentation of this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for, or alternative to, operating income, net income and net income per basic and diluted share determined in accordance with GAAP. Analysis of results and outlook on a non-GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with GAAP.

Information Relating to Forward-Looking Statements

This press release includes forward-looking statements that are subject to numerous assumptions, risks, and uncertainties, which could cause actual results or facts to differ materially from such statements for a variety of reasons, including, but not limited to: industry conditions, the company's implementation of its new enterprise resource planning system, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, the effects of additional actions taken to become more efficient or lower costs, and the company’s ability to generate additional cash flow. Forward-looking statements are those statements which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as "expects," "anticipates," "intends," "plans," "may," "will," "believes," "seeks," "estimates," and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

CONTACT:
Arrow Electronics, Inc.
Michael Taunton, 631-847-5680
Vice President & Treasurer
or
Paul J. Reilly, 631-847-1872
Executive Vice President, Finance and Operations & Chief Financial Officer
or
Media:
John Hourigan, 303-824-4586
Director, Corporate Communications