Ingram Micro net income rises
From Times Staff and Wire Reports
Ingram Micro Inc., the world’s largest computer products distributor, posted a higher quarterly profit but said that it saw softness in some regions and that it was restructuring its Europe, Middle East and Africa operations.
Shares of the Santa Ana company fell 2% in extended trading to $16.20 after the earnings news. It had closed at $16.56.
First-quarter net income rose to $64.1 million, or 37 cents a share, from $37 million, or 21 cents, a year earlier. The year-earlier figures included a tax charge of $33.8 million, or 19 cents a share. Revenue increased 4% to $8.58 billion.
Ingram forecast second-quarter revenue of $8.50 billion to $8.75 billion, with net income of $59 million to $64 million, or 34 cents to 37 cents a share.
