Tills ring for Bell in Q2
Despite bum note in Europe
Storage distributor Bell Microproducts saw revenues jump by a quarter in the second quarter.
The top line for the quarter ending June 30 came in at $788m, up 25 per cent on the year. Net earnings were $3.2m, compared to the previous year’s $1.1m.
Bell said the boost in revenues came despite challenging market conditions in Europe in the second quarter. Its acquisition of OpenPSL in June 2004 helped boost overall European sales by 22 per cent. Excluding OpenPSL, European revenues were up just 10 per cent.
An overall decline in gross margins from 7.2 per cent to 7.1 per cent was down to the pressure in Europe and a reduction in “certain vendor incentives” said Bell.®