DOW JONES NEWSWIRES
Ingram Micro Inc.'s (IM) fourth-quarter earnings rose 7.5% as
the company saw revenue growth across all of its operating
regions.
"For the first quarter, we expect sales to follow a historical
seasonal pattern, with a normal sequential decline and modest
year-over-year growth," said Chief Executive Gregory Spierkel.
Analysts polled by Thomson Reuters expect year-over-year growth of
7%.
The computer-equipment distributor serves as a go-between for
some of the world's leading hardware and software companies and
information-technology departments. Demand has picked up for the
company in recent quarters as the economy gets better and demand
for electronics has improved.
Ingram reported a profit of $115 million, or 71 cents a share,
up from $107 million, or 64 cents, a year earlier. The most-recent
quarter included a 5-cent benefit for commercial taxes on software
imports into Brazil, while the year-earlier quarter included a
3-cent benefit.
Revenue jumped 12% to $9.9 billion.
Analysts polled by Thomson Reuters had most recently forecast
earnings of 67 cents on $9.57 billion in revenue.
Gross margin was flat at 5.7%, while operating expenses
increased 11%.
In North America, sales rose 13%, while the Europe, Middle East
and Africa region's sales climbed 9.9% and the Asia-Pacific
region's top line jumped 15%. Revenue in Latin America rose
11%.
Shares closed at $20.78 and were inactive after hours. The stock
has risen 20% the past year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com;