Wyle Electronics Reports Rise in 2nd-Quarter Profit

Wyle Electronics, an Irvine electronics distributor, reported net income of $8.8 million, or 70 cents a share, for the second quarter. That compares with a year-earlier profit of $4.3 million, or 35 cents a share, which included $976,000 income from discontinued operations. Sales rose 36% to $254.9 million from $188.1 million. Profit for the first half reached $15.5 million, or $1.24, more than double the $7.1 million, or 44 cents a share, recorded for the prior-year period. Revenue was up 39% to $504.9 million from $363.7 million.