Nu Horizons Electronics Corp. Reports Second Quarter Fiscal Year 2008 Results

• Record Sales for the Quarter
• Restatement of Financials Complete
• NASDAQ Compliant

MELVILLE, NY, November 29, 2007 - Nu Horizons Electronics Corp. (Nasdaq/NM: NUHC), a leading distributor of active and passive electronic components, today reported financial and operating results for the second quarter and six months ended August 31, 2007.

Net sales for the quarter ended August 31, 2007 increased to $203,576,000 as compared to $193,522,000 for the comparable period last year, an increase of 5.2%.  Net income for the quarter was $783,000 or $.04 per diluted share, as compared to a net income of $2,747,000 or $.15 per diluted share for the second quarter of the prior year.

For the six months ended August 31, 2007, net sales increased to $395,903,000 from $381,281,000 in the comparable period last year, an increase of 3.8%. Net income for the first half of fiscal 2008 was $2,471,000 or $.13 per diluted share, compared to net income of $5,261,000 or $.28 per diluted share in the same period last year.

A comparison of sales by geographic area and type is included as Exhibit A below.

Arthur Nadata, Chairman of the Board and Chief Executive Officer stated, "We are encouraged about our record second quarter sales, which are largely attributable to our DT acquisition, but disappointed with our earnings which were adversely effected by incremental operating expenses and an increase in the provision for income taxes.  The incremental operating expenses are principally the result of the inclusion of the operating costs of DT for the full period of the current year, Germany start-up costs, and professional fees.  We have reduced our domestic workforce by 34 employees, which is expected to decrease our annual operating expenses by approximately $3,000,000 and contribute to our goal of increasing operating margins."  Mr. Nadata added, “The increase in the provision for income taxes is primarily due to interest and penalties associated with the amendment of our prior year tax returns.  We expect our tax rate to again approach statutory rates over the next two quarters."

Mr. Nadata concluded, "We are pleased that we have completed the restatement of our financial statements for fiscal 2007 and the first quarter of fiscal 2008, had our current filer status reinstated with the Securities and Exchange Commission, and are now in compliance with Nasdaq listing requirements."

A conference call to further discuss earnings will be held today at 4:15 pm Eastern time.  The call can be accessed by dialing 1-877-874-1588, (international, dial 1-719-325-4810).  A rebroadcast of the call will be available beginning at 7:00 pm Eastern time on November 29, 2007 until 12:00am on December 6, 2007 at
1-888-203-1112 (international, dial 1- 719-457-0820).  Please refer to confirmation code 3548147.  A webcast of the call will also be available, online (both live and after the call), at www.nuhorizons.com. 

Table of Results and Exhibit A (PDF)

About Nu Horizons Electronics Corp.
Nu Horizons Electronics Corp. is a leading global distributor of advanced technology semiconductor, display, illumination, power and system solutions to a wide variety of commercial original equipment manufacturers (OEMs) and Electronic Manufacturing Services providers (EMS). With sales facilities in 51 locations across North America, Europe and Asia and regional logistics centers throughout the globe, Nu Horizons partners with a limited number of best-in-class suppliers to provide in-depth product development, custom logistics and life-cycle support to its customers. Information on Nu Horizons and its services is available at http://www.nuhorizons.com

Cautionary Statement Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this news release are forward looking statements.  When used in this press release, words such as “anticipate," “believe," “estimate," “expect," “intend" and similar expressions, as they relate to Nu Horizons or its management, identify forward-looking statements.  Such forward-looking statements are based on the current beliefs of Nu Horizons’ management, as well as assumptions made by and information currently available to its management.  Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as the level of business and consumer spending for electronic products, the amount of sales of the Company’s products, the competitive environment within the electronics industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company’s expansion efforts, the financial strength of the Company’s customers and suppliers and risks related to the pending Vitesse-related class action litigation.  Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Company with the Securities and Exchange Commission.  Such statements reflect our current view with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Nu Horizons’ financial condition, results of operations, growth strategy and liquidity.  The Company does not undertake any obligation to update its forward-looking statements.