Ingram Micro reports solid growth

Weak dollar and reduction of operating expenses boost distributors results
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Ingram Micro has reported a strong final quarter of 2009, with global sales revenue increasing by one per cent, or six per cent when adjusted for currency differences.

Net income for Q4 was $107 million, compared to a net loss of $564.3 million at the end of 2008.

Although North and Latin American sales were down by five per cent and two per cent respectively, the distributor was able to report sales growth of 16 per cent in Asia-Pacific, and four per cent in EMEA, which was further boosted by the inflation rate of the Euro.

“We ended 2009 on a high note, with strong sequential growth in the final two quarters and good progress in our largest regions,” said Ingram Micro’s CEO Gregory Spierkel.

“The benefits of our expense-reduction actions were evident, as operating expenses declined on higher revenues compared with the prior-year period. There is still more work to do, but the trends are positive and we are externally focused on growth with enhanced profitability.”

Looking ahead, Ingram Micro expects sequential revenue decline for the coming quarter – traditionally one of the quietest times of year for retail – but despite this it still expects year-on-year growth for Q1 2010.

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