Ingram Reports Record Q2 Revenue

Santa Ana, Calif. – Ingram Micro reported a 6 percent gain in worldwide revenue, a record for the quarter, and a slight drop in net income for the second quarter, ended June 28.
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Santa Ana, Calif. – Ingram Micro reported a 6 percent gain in worldwide revenue, a record for the quarter, and a slight drop in net income for the second quarter, ended June 28.

Worldwide revenue was up $600 million, or 6 percent, to a second-quarter record of $10.9 billion, compared with the same period last year.

GAAP second-quarter net income was $51 million, compared with 2013 second-quarter net income of $70 million.

Alain Monie, Ingram Micro CEO, commented, "Revenue growth was driven by new mobility wins, robust networking sales and solid systems revenue in North America, which benefited from the PC refresh cycle; strengthening retail and consumer markets in Europe; and better demand in much of Latin America.”

He noted, "The global demand environment continued to improve and we remained disciplined in our approach to sales, while selectively making share gains."

Beginning in the second quarter of 2014, the company is reporting four segments — North America, Europe, Asia-Pacific and Latin America. As the company has continued to integrate its acquired mobility business, it is combining formerly discrete operations including warehouses, systems and back office functions, making it increasingly difficult to separate the businesses.  

North America and Europe revenues benefited from robust mobility distribution sales, strong sales of networking products and an uptick in demand for systems products, including PCs during the quarter.

Strong revenue growth in North America, Europe and Latin America was partially offset by declines in Asia Pacific driven primarily by lower handset sales in Indonesia and continued sales weakness in China related to lower sales of tablets and softer demand for some of the products and vendors the company carries. 

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