IM reaffirms Q4 guidance

IM reaffirms Q4 guidance

11 February 2003 – Santa Ana (CA): Ingram Micro (IM) has reaffirmed earnings guidance for its Q4, ended 28 December 2002.

IM’s chairman/CEO, Kent Foster, declared that the company is "determined to be the profit leader in the IT distribution industry" and that its profit-enhancement programme is "on track".

Foster also stated that IM would meet or exceed analyst Q4 earnings estimates, with income expected to be at the higher end of the previously announced range of $26 million to $29 million. "Although November was a bit softer than we originally expected, December’s sales performance drove fourth quarter revenues to the high end of the range of guidance we issued in late October," he said.