Ingram Micro back in the black in Q4

Ingram returned to growth in Q4 with increases in net income and sales

Ingram Micro has cited its success in EMEA as one of the driving forces behind its return to growth in the fourth quarter.

The distribution giant posted a fourth quarter net income of $107m (£69.5m) for the three months ending 2 January. During the equivalent quarter last year, the firm recorded a net loss of $564.3m.

The firm’s worldwide sales topped $8.81bn during Q4, up 1.5 per cent on last year, with EMEA’s contribution of $3.05bn representing 35 per cent of the total.

Ingram’s other significant region was North America with sales of $3.59bn, which is five per cent lower than those posted for the same period last year.

For the year ending 2 January, Ingram's worldwide sales were 14 per cent down on last year at $29.52bn – a decline the company has attributed to poor exchange rates brought about by the economic downturn.

The company also reported a 12-month net income of $202.1m, having posted a net loss of $394.9m for the 2008 financial year.

Greg Spierkel, chief executive at Ingram Micro, said: “We ended 2009 on a high, with strong sequential growth in the final two quarters and good progress in our largest regions.

“North America delivered the highest sequential growth in seven years, on top of the near-record sequential growth in the third quarter and EMEA is back on track with operating income at healthy, pre-recession levels.”

William Humes, senior executive vice president at Ingram Micro, added: “We made progressive improvements in the last half of the year and delivered a modest increase in revenues despite fewer selling days compared with last year’s fourth quarter.”