Ingram Micro boasts best Q3 sales since 2000

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Ingram Micro has posted an upbeat quarter, with sales and operating margins at their highest Q3 levels since 2000.

Worldwide sales for the quarter were $6.02 billion, 16 per cent up from $5.21 billion posted in the same period last year.

Excluding items, net income on a non-GAAP basis was $32.6 million, or EPS of $0.21, up from $14.5 million on a non-GAAP basis, or EPS of $0.09 in Q3 of 2003.

CFO Thomas Madden said: "Our performance this quarter was driven primarily by stronger demand, particularly in September. Our investments in customer initiatives, high-growth products, and process improvements continue to bear fruit, and the market seems to be more cooperative."

CEO Kent Foster added: "Our performance this quarter exceeded the top end of our guidance range. Every region posted an operating profit."

Santa Ana (CA)