Ingram Micro saw sales fall by 21 per cent and profits more than halved during the first quarter of 2009.
The company generated $27.5 million in profit for the quarter, compared to $64.1 million for the same period in 2008.
Despite this decline, the distributor insists that it is in a strong position to withstand any further blows to its margin.
“With the recession now affecting all regions, we do not expect a pick-up in sales for several more months, perhaps for the remainder of the year,” said Ingram Micro’s chief executive officer Greg Spierkel. “However we don’t feel the market getting worse at this stage and expect Q2 sales to follow a historical seasonal pattern.
“We should see additional benefits of our expense-reduction programs. The results of last year's program are now fully realized, generating annualized benefits of more than $20 million. I’m confident that the actions we’re taking today will make us stronger and more profitable when demand returns.”
Advertisement
Related Stories
- Lenovo net profits soar by 73% May 23rd 2012 at 10:55AM
- Ingram Micro announces deal to distribute BlackBerry PlayBook to resellers May 21st 2012 at 9:56AM
- Consumer electronic sales decline Nov 25th 2011 at 1:10PM
- Analysis: Nokia looks to crack IT channel Oct 3rd 2011 at 2:37PM
- Ingram Micro EMEA announces launch of Channel Transformation Alliance Sep 19th 2011 at 11:22AM
- Nokia joins forces with Ingram Micro and Micro-P Sep 15th 2011 at 4:27PM
- John Lewis profits down Sep 14th 2011 at 4:13PM
- Target profits up 56% Jul 8th 2011 at 12:45PM
- Spam sees sudden decline Jan 5th 2011 at 11:06AM
- Digital magazine market declines Jan 4th 2011 at 2:26PM
