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Arrow Enterprise Computing Solutions, an operating unit of New York-based Arrow Electronics Inc. ( ARW - Analyst Report ) , recently declared the extension of its newly introduced Empower program. The latest platform, which is a multivendor enablement program, was specifically designed to augment the data-center convergence selling of the solution providers in North America.
Arrow through its enhanced program will provide an advanced platform to the solution providers to categorize and develop converged data-center solutions in the vertical markets. The Empower program offers complete enablement training, solution scoping, designing live or virtual proof-of-concepts, configuration as well as post-sales execution support.
Management averred that the company’s latest program would surely mitigate the increasing demand in the growing market for data-center convergence solutions and will also help enhancing the revenue streams of the solution providers through raising their data-center convergence selling.
The company’s broad portfolio of products and services with its continued efforts to provide maximum consumer satisfaction have achieved both – elevation of its position and rendering adequately security to warrant a substantial market share in the present scenario. Revenues from Arrow’s Global enterprise computing solutions (ECS) came in at $1.70 billion, up 2.0% year over year, and in line with management's expectations. Previously, Europe was considered as the key driver for the annual growth.
The company’s domestic and foreign operations are subject to significant competitive pressures. Arrow currently faces ominous competition from major players of the industry, which include Richardson Electronics Ltd. ( RELL - Snapshot Report ) and Avnet Inc. ( AVT - Analyst Report ) . To compete successfully, Arrow must excel in terms of product quality and innovation, customer service, technical and computing capabilities and price competitiveness, which may appear to be costly.
The current Zacks Consensus Estimate for the third quarter of 2012 is $1.04, reflecting a year-over-year growth of (13.61%). Estimates for 2012 and 2013 are $4.51 and $5.01, representing annual growth of (13.03%) and 10.89%, respectively. We currently maintain a ‘Neutral’ recommendation on Arrow. The stock carries a Zacks #3 Rank, translating into a short-term (1-3 months) ‘Hold’ rating.
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