Ingram Micro has reported global sales of $6.96bn for its third quarter 2005, a 16 per cent increase over the $6.02bn it posted for the same period last year.
The distributor's European divisions were up 10 per cent on last year's Q3 figure with sales of $2.34bn, accounting for 34 per cent of total group revenue.
“Over the last eight quarters we have consistently delivered solid sales growth, and this quarter we drove much of it to the bottom line,” said Greg Spierkel, chief executive of Ingram Micro. “Every region’s sales and operating income grew over last year. Europe achieved double-digit growth in sales and operating income in the face of weak economies in that region."
However, Q3 profit, based on generally accepted accounting principles, was $48.4m, compared with $77.3m in the year-ago quarter. Q3 2005 included major-programme and integration costs of $7.2m related to the company’s outsourcing and optimisation plan in North America and the integration of Tech Pacific, which the company acquired in November 2004.
Looking ahead, Spierkel said: "Our focus on profitability has positioned us well and we expect to benefit from growth in new categories such as AIDC/POS, consumer electronics, and mobility. In addition, our diversification strategy continues to bear fruit, helping us perform consistently in challenging markets while developing expertise in promising new areas such as services and logistics. The strength and stability of our management team continues to be a key component of our success.”
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