Ingram Reports Higher Revenues, Profits - Twice

Ingram Reports Higher Revenues, Profits

Santa Ana, Calif. — Ingram Micro reported higher sales and profits in its third quarter, ended Sept. 30.
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Santa Ana, Calif. — Ingram Micro reported higher sales and profits in its third quarter, ended Sept. 30.

The distributor reported worldwide sales of $9.03 billion were up 1 percent in U.S. dollars when compared with $8.90 billion in the third quarter last year. The translation effect of foreign currencies had a negative impact of 5 percent on worldwide sales growth as compared with the prior year.

Operating income grew by 8 percent to $92.6 million year on year. Net income was $53.3 million, up from the prior year’s $23.3 million.

North America's sales grew by 5 percent, increasing year over year for the 11th consecutive quarter, driven by growth in all U.S. divisions, including solid growth in the U.S. broadline business, as well as double-digit increases in the higher margin businesses of DBL, physical security and Ingram Micro Logistics.

While growing share, the Canadian business declined modestly when compared with the 2011 third quarter, primarily due to soft market conditions and the non-recurrence of a special promotional program by a large vendor that drove strong Canadian sales last year.

On Oct. 15, Ingram Micro closed the BrightPoint acquisition and established itself as a leading global provider of device lifecycle services and solutions for the mobile industry.

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