IM posts Q1 gain

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29 April 2005 – Santa Ana (CA): Ingram Micro (IM) has reported a rise in its Q1 net income.

The IT wholesaler reported profit, based on generally accepted accounting principles (GAAP), of $42.4 million, or EPS of $0.26, compared to $37.6 million, or EPS of $0.24 registered 12 months earlier. Worldwide sales climbed 12 per cent from $6.28 billion to $7.05 billion.

IM’s chairman/CEO Kent Foster commented: "We delivered another strong quarter despite the widely reported competitive dynamics in North America and softer economies in some markets of Europe."