Ingram Micro Posts 70% Profit Gain on Record Sales

Ingram Micro Inc., the rapidly growing distributor of computer products, reported Wednesday that profit surged 70% in the first quarter on record sales.

Net income rose to $40.4 million, or 28 cents a share, from $23.8 million, or 20 cents a share, for the same quarter a year ago. Sales increased 29% to $3.6 billion from $2.8 billion.

The company operates in 19 countries and distributes more than 36,000 products to more than 100,000 resellers in 120 countries.