Ingram Micro has revealed its financial results for the first quarter of 2010, reporting double-digit growth in all regions.
Global sales increased by 20 per cent year-on-year to $8.1 billion, with differing currency rates boosting revenue by six per cent. Net income grew even faster than sales, reaching $70.3 million compared to just $27.5 million in the same period a year ago.
“We're pleased to be back in growth mode,” said Ingram Micro’s CEO Gregory Spierkel. “We're even happier to generate strong operating leverage, with the increase in operating income significantly outpacing sales growth. Our initiatives to re-energize sales and diligently manage expenses, combined with a better demand environment, drove our results this quarter.
“ The improvements we made during the recessionary months are paying off and should continue to deliver benefits throughout the year.”
Earlier this week Ingram Micro announced that it will be holding a unilateral trade show at The London Eye and the London Film Museum on October 6th.