Broadline distributor Ingram Micro has posted a drop in turnover for its third quarter, but claimed that the figures have "exceeded its expectations".
The firm posted turnover of $5.6bn for the quarter ended 28 September, a four per cent decline on the $5.8bn posted last year.
However, Ingram Micro the distributor was keen to point out that the figure was a 4.6 per cent sequential increase on its Q2 2002 turnover.
The distributor also posted a net loss of $8.3m for the quarter, compared with a loss of $13.3m for the same period last year.
Greg Spierkel, president of Ingram Micro Europe, told Computer Reseller News: "We feel that the underlying business is moving in the right direction, especially as Q3 is generally the weakest quarter.
"In the coming quarter we hope to see sequential and seasonal improvements. Because Q4 is generally better, we are expecting an upturn in sales. We will continue to 'right-size' the organisation where it makes sense and focus on a profitable business."
Earlier this year the firm announced its profit enhancement programme in an attempt to save $160m by Q1 2004.
According to Spierkel, Ingram is doing everything it can to be a strong partner for its resellers.
"It is important that we continue to invest in e-commerce with new tools and schemes that support resellers, and retain a strong market position with vendors," he said.
Alan Norton, head of intelligence at credit and finance specialist Graydon, said that Ingram is in a good position.
"Ingram has posted a narrower net loss despite a small decline in turnover, and the company has a healthy balance sheet," he said.
"While the current economic environment remains challenging, Ingram's results show it is in a good position globally for future profitable growth."
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