Ingram Micro Profit May Top Forecast

Ingram Micro Inc. of Santa Ana said it will have third-quarter profit of at least 11 cents a share, excluding some costs, meeting or exceeding the high end of its previous forecast. Revenue will be at least $5.45 billion, Chief Financial Officer Thomas Madden said.

Ingram Micro, the world’s biggest computer-products distributor, earlier forecast profit of 9 cents to 11 cents a share on revenue of $5.30 billion to $5.45 billion.

The company attributed the improved outlook to cost cutting that lowered annualized expenses to $100 million from a year ago.

It expects to cut back further by closing the Frameworks assembly plant in the Netherlands, affecting an unspecified number of jobs.

Ingram Micro shares fell 24 cents to $12.97 on the NYSE before the results were announced.