Feeds

Ingram solid in Q1 despite Euro softness

Sets Q2 guidance

High performance access to file storage

Ingram Micro beat its own financial forecasts in the first quarter despite softening economies and currencies in Europe.

Sales for the three months ending 1 April were $7.6bn, up 8 per cent on the year. Weak European currencies had a three percentage point negative effect on the year on year comparison, Ingram said. Net income was $61.7m, up 45 per cent. The company said this was better than the guidance it gave back in February.

European sales were up two per cent to $2.7bn, though Ingram said stiff price competition and some soft European economies hit its gross margins here, and the currency effect had a nine per cent negative impact on the year on year comparison. European operating income was $34.5m, compared to $37m the previous year.

Ingram said sales in the current quarter will range between $7.15bn to $7.35bn, with net income of $49m to $56m.

The firm said it plans to overhaul its IT systems, which will mean $5m of expenses in the current quarter. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.