twice connect

Ingram Posts Double-Digit Q3 Gains

10/28/2010 04:21:32 PM Eastern

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.

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.

Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo