Overseas growth aids Ingram Micro

Ingram Micro Inc., the world’s largest computer products distributor, posted better-than-expected quarterly profit as it boosted sales in Asia and Europe.

Third-quarter net income rose 24% to $72.4 million, or 41 cents a share, from $58.5 million, or 34 cents, a year earlier, beating the company’s and analysts’ forecasts. Revenue increased 15% to $8.61 billion.

Ingram Micro shares were up in extended trading after closing at $19.40.

In July, Ingram Micro forecast third-quarter net income in a range of $67 million, or 38 cents a share, to $71 million, or 40 cents. It looked for revenue of $8.3 billion to $8.5 billion in the third period. Analysts, on average, expected third-quarter net income of 39 cents a share and revenue of $8.39 billion, according to Reuters Estimates.

A weaker dollar contributed about 5 percentage points to revenue growth of 15%, Ingram Micro said.

The company forecast fourth-quarter net income ranging from $103 million, or 58 cents a share, to $108 million, or 61 cents, and sales ranging from $9.7 billion to $9.95 billion.