Ingram Micro has 'record' year

Distributor reports fourth quarter and fiscal 2006 results up, and chief executive claims it's a 'record year' for the firm

Distribution giant Ingram Micro has reported turnover up 11 per cent to $8.85bn for its fourth quarter 2006, ended 30 December. Profit for the quarter was $91.7m.

European sales for Q4 were $3.23bn - 36 per cent of total revenues - an increase of seven per cent versus the $3.01bn in the year-ago quarter. The translation impact of the relatively stronger European currencies had an approximate nine percentage-point positive impact on comparisons to the prior year, the firm said in its financial statements.

For the fiscal year 2006 the firm reported sales of $31.36bn, a nine per cent increase over 2005 and an all-time record, the broadliner said. Profit for the full year was $265.8m versus $216.9m in 2005

"We closed the year with record annual sales and income," said Greg Spierkel, chief executive officer at Ingram. "For the fourth quarter, sales hit a quarterly record and all four regions reported operating margins of more than 150 basis points for the first time in company history.

“Nearly every country performed well. While issues in Germany clouded our income performance during the quarter, the warehouse management system is now running effectively. We believe the upgraded system will drive a more efficient and productive operation for Germany and the region."