Ingram Sees Revenue at Low End of Forecast

Ingram Micro Inc., the world’s biggest distributor of computer parts, said fourth-quarter sales will be at the low end of its forecast because demand in North America is “softer” than expected.

Santa Ana-based Ingram Micro reiterated an estimate for profit, excluding some costs, of $26 million to $29 million, or 17 cents to 19 cents a share. Sales will be at the lower end of the company’s earlier forecast of $5.75 billion to $5.90 billion.

Demand in North America “is a bit softer than we originally expected,” Chief Executive Kent Foster said. Less-robust demand in the fourth period is unusual because companies tend to spend capital budget at year’s end, said Robert Anastasi, an analyst at Raymond James & Associates Inc.

“We’re still bumping along the bottom,” Anastasi said. “This is very much in line with the kind of things we’re seeing” industrywide.

Analysts expected profit of 18 cents a share on sales of $5.85 billion, the average estimates in a survey by Thomson First Call.

Shares of Ingram Micro fell 61 cents to $12.39 on the New York Stock Exchange.

They have declined 28% this year.

Demand hasn’t weakened outside of North America, spokeswoman Ria Marie Carlson said.

“We’re not seeing this type of softening in Europe or elsewhere in the world,” she said.

Ingram Micro has previously said it will have extra costs this quarter because it’s been cutting jobs, closing facilities and reorganizing operations.

In last year’s fourth quarter, Ingram reported net income of $5.7 million, or 4 cents a share, on sales of $6.14 billion. The company said it would have had profit of $14.4 million, or 10 cents a share, if some costs were excluded.