By
Jennifer Lawinski
26 October 2007 11:29AM
Tags:
ingram | record | quarter
Ingram Micro announced record sales for the third quarter of 2007 after market close on Thursday..
Ingram Micro announced record sales for the third quarter of 2007 after market close on Thursday.
The Santa Ana, Calif.-based broadline distributor posted sales of US$8.61 billion, up 15 percent over the same period last year when the company hit US$7.51 billion in sales. Net income for the third quarter was US$72.4 million, or 41 cents per diluted share, up 24 percent from US$58.5 million or 34 cents per diluted share in the same period last year.
Sales in North America hit US$3.5 billion and represented 41 percent of the company's revenues for the quarter, up 4 percent from US$3.37 billion last year.
Sales in EMEA, 33 percent of Ingram's market, came at US$2.86 billion, up 18 percent over last year, and sales in the Asia-Pacific region were US$1.86 billion, up 36 percent year over year. Latin American sales, 4 percent of Ingram's business, were US$382 million.
Ingram Micro expects sales in the fourth quarter to be the highest in the company's history with income ranging between US$103 and $108 million, or 58 cents to 61 cents pre diluted share, on US$9.7 to US$9.95 billion in revenue.
Shares of Ingram Micro were trading at US$20.50, up more than 5 percent in after-hours trading.
See original article on CRN.com