Bell rings in 'record' results
European region returns to profitability as distributor reveals Q1 results
Distributor Bell Microproducts has seen an eight per cent increase in turnover for its first quarter 2006 results.
The firm, which also incorporates OpenPSL and Ideal Hardware in the UK, claimed “record” turnover of $867m, compared to $804m in the year ago quarter.
In addition, European turnover increased five per cent compared to the previous year driven by the firm’s acquisition of MCE.
Net profit according to Generally Approved Accounting Principles (GAAP) was $2.5m, compared to a GAAP net loss of $9.4m in 2005.
Don Bell, chief executive of Bell Microproducts said: “We are pleased to report record quarterly revenue and a significant improvement in profitability from Q4 of last year.
“We generated revenue growth in all geographies and most major continuing product categories during the quarter as compared to the same period in 2005. We made significant progress in Europe during the quarter and returned this portion of our business to profitability. The European improvement resulted from revenue growth, higher gross margins and the benefits of cost control.”