CHS Electronics posted record 1996 results after a round of acquisitions made it the second biggest distributor in Europe.
Net profits worldwide jumped 208 per cent to $13.3 million from $4.3 million for 1995 on sales which grew 98 per cent to $1.9 billion in 1996 from $900 million the previous year.
Operating income for 1996 increased 180 per cent to $30.3 million from $10.8 million for the comparable 1995 period. The results exclude the $1.4 million restructuring charge for integrating Merisel.
But the Merisel acquisition pulled down gross margins to 7.1 per cent for the year, compared with 7.3 per cent the previous year.
Like-for-like sales grew 30 per cent from $940 million in 1995 to $1.22 billion in 1996.
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