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Ingram Micro's Q3 N.A. Sales Off 12%

11/11/2002 02:00:00 AM Eastern

Accounting for 55 percent of its worldwide total, sales in North America at Ingram Micro dropped 12.1 percent in the third quarter, to $3.1 billion, down from $3.5 billion in the year-ago period.

North American operating income for the third quarter, excluding major-program costs, increased 35 percent, to $41.7 million, up from $30.8 million in the same three months last year.

Including major-program costs, North American operating income hit $7.4 million in the third quarter, ended Sept. 28. This is compared with $8.7 million in the year-ago third quarter. The quarter's major-program costs of $45.1 million include $22.8 million in reorganization expenses.

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