Distribution giant Ingram Micro recorded worldwide fourth quarter sales of $10.01 billion which brought sales for the 2007 fiscal year as a whole up to a record $35.05 billion – a 12 per cent increase year on year.
Fourth quarter net income landed at $114.1 million, compared with $91.7 million for the same period last year. Worldwide operating income for the 2007 fiscal year as a whole clocked up to $446.4 million.
However in terms of Q1 outlook, Ingram admitted to a ‘softness’ in the North American and European markets, which had led to relatively modest forecasts.
The distributor's predictions of $8.75 to $9.00 billion revenue, and a net income of $63 to $71 million for the period ending March 29th – while far from meek – did fall below expectations.
“We believe our outlook is solid in light of concerns about the worldwide economic environment,” said Gregory Spierkel, chief executive officer of Ingram Micro. “We are experiencing some softness in Europe and North America, which is reflected in our guidance, but Asia-Pacific and Latin America remain strong. Our strategic investments are an advantage in this environment by providing geographic, market-segment and business-model diversity.
“Our focus during the quarter will be on tightly managing expenses while continuing to cultivate areas that will drive growth. I’m confident that our team will continue to perform, as we have proven our ability to excel in challenging markets. I look forward to our future success.”