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Ingram goes mooney over June quarter

Asia boosts solid Q1

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Ingram Micro reported its first quarter results yesterday and took a rosier than expected view of the second quarter.

The giant US distributor giant reported revenues of $7.05bn, compared to $6.28bn last year. The top line was boosted by strengthening European currencies as well as the Tech Pacific operation it acquired last November. Net income was $42.4m (25 cents per share) compared to last year’s $37.6m (24 cents per share), which included “major program” and acquisition-related costs of around $9.8m.

While the figures were at the top end of its forecast range, Ingram noted that it was seeing a competitive market in the US as well as a number of softer economies in Europe.

But that didn’t stop it taking a bullish view on the current quarter, predicting earnings per share of 25 to 28 cent on revenues of $6.7bn to $6.9bn. The consensus of the suits on Wall Street is 25 cents per share on revenues of $6.74bn. The expected Q2 sales growth of 17 to 21 per cent will be underpinned to a large extent by the Tech Pacific operation.

Related stories

Ingram Micro signs CA for software licensing gig
Ingram Micro cuts jobs and costs
Ingram Micro splits CEO and chairman roles
Ingram confident on Q1
Currency effects boost Ingram Q4

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