Ingram sees increase in turnover
Broadliner sees every region perform strongly in Q1, 2006
Ingram Micro has reported an eight per cent increase in sales to $7.6bn, for its first quarter 2006, ended 1 April 2006, compared to $7.05bn in the prior-year period.
Q1 profit increased to $61.7m, a 25 per cent, on the prior year period, based on Generally Accepted Accounting Principles (GAAP). Q1 06 also includes which includes stock-based compensation expense of $8m.
European sales were $2.7bn, or 36 per cent of total turnover, compared to $2.65bn in the year-ago period.
"We entered the year with strong momentum from our successes in 2005," said Greg Spierkel, chief executive officer of Ingram Micro. "Sales and net income exceeded the guidance we issued in February, and every region generated operating margins exceeding 100 basis points.
"We continue to benefit from our efforts toward optimisation and differentiation - sales were solid in every region, cost control was excellent and our recent expansions into consumer electronics and services are contributing to results."