Santa Ana, Calif. - Ingram Micro reported double-digit increases in sales and profits for the third quarter, ended Oct. 2.

Worldwide sales for the third quarter were $8.45 billion, an increase of 14 percent compared with $7.38 billion in the prior-year third quarter.

Net income grew to $65 million in the quarter and compares with the net income of $42.3 million in last year's third quarter.

"We continued to demonstrate meaningful leverage in our business model, with year-over-year operating and net income gains far outpacing sales growth," said Gregory Spierkel, CEO.

"North American sales were at the highest third quarter level in 10 years," he added.

North American sales were $3.65 billion (43 percent of total sales), an increase of 13 percent versus $3.22 billion reported in the year-ago quarter.

 Operating income for North America was $63.5 million, or 1.74 percent of North America sales, compared with $30.4 million (0.94 percent of North America sales) in the year-ago quarter, which included $7.1 million (0.22 percent of sales) in expense-reduction program costs.
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2010-10-28 20:21:32
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Abstract Web: 
Santa Ana, Calif. - Ingram Micro reported double-digit increases in sales and profits for the third quarter, ended Oct. 2.
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