Ingram hits fourth quarter records

Distributor reports highest sales in five years

Ingram Micro reported a record financials for its fourth quarter. The distributor reported profit, based on generally accepted accounting principles (GAAP) at $84.4m, compared to $79.2m for the same period the previous year. This includes major programme and integration costs of $8.2m.

Turnover for its fourth quarter was $7.96bn, compared to $7.45bn in the prior-year period. European sales were $3.01bn - 38 per cent of total turnover, compared to $2.99bn in the year ago quarter.

Sales for the 2005 fiscal year were $28.81bn, a 13 per cent increase over 2004.
Greg Spierkel, chief executive officer at Ingram Micro, said: “I’m pleased to end the year on a high note after delivering solid results throughout 2005. A strong December, coupled with exemplary cost containment, drove the better-than-expected bottom-line results for the quarter.

“We posted the highest sales in five years and the initiatives we have developed over the last several quarters are driving superior performance. For the full year, net income on a non-GAAP basis hit an all-time high and every region exceeded 100 basis points of non-GAAP operating income for the first time in company history. We now have four strong engines throughout the world, with each region contributing to our profitability and growth.”