Nu Horizons Electronics reported financial results for the second quarter 2009. Net sales increased 14.3 percent to $211.8 million $185.4 million for the comparable period last year. This increase resulted primarily from continued growth in the company's core electronics distribution business in the Asia-Pacific region, as well as from significant end-of-life sales in its systems business in North America. Net income was $192,000 as compared to a net income of $783,000 for the second quarter of the prior year.

The decline in net income was primarily due to professional fees related to the SEC investigation entitled ”In the Matter of Vitesse Semiconductor Corp.,“ as well as the related internal investigation being conducted by the company's audit committee. In addition, the company incurred severance costs during the second quarter of fiscal 2009 as a result of its previously announced decision to consolidate its Melville, New York warehouse into an expanded Mississippi warehouse. This consolidation plan is expected to be completed in January 2009 and to result in estimated recurring annual savings of $1,100,000, excluding approximately $500,000 of warehouse consolidation costs, primarily consisting of severance.

In September Nu Horizons acquired C-88 AS in Denmark.