Inquiry forces Ingram to cut Q2 forecast

3 July 2007 — Santa Ana (CA): Ingram Micro is taking a charge of $15 million into Q2 in anticipation of losses related to a SEC investigation into its dealings with McAfee.

The SEC believes that Ingram failed to maintain adequate books and records relating to some of its transactions with McAfee.

 

Because of the charge, the company is now forecasting Q2 net income in the region of $50 million to $56 million, or $0.29 to $0.32 per diluted share.