IM posts stunning results

25 February 2005 – Santa Ana (CA): Ingram Micro (IM) posted sales of $25.46 billion in 2004, a steady increase of 12.6 per cent from $22.61 billion in 2003, boosted by the weak dollar and the acquisition of the former Tech Pacific business in November.

Net income based on a GAAP basis was $219.9 million, or EPS of $1.38, up from $149.2 million, or EPS of $0.98, last year.

Sales for Q4 were $7.45 billion, a 10.2 per cent increase from $6.76 billion a year ago. Net income was $79.2 million, or EPS of $0.48, up from $46.4 million, or EPS of $0.30, in 2003’s Q4.

Chairman and CEO Kent Foster said: "I congratulate our associates in every region for a strong finish to a historic year."

Looking forward, he added: "Demand continues to be generally solid throughout the world. We expect to maintain or enhance market share through strategic initiatives to spur both sales and income, while expanding our reach into new technologies and markets."