The Channel logo

News

By | Team Register 25th February 2005 16:48

Currency effects boost Ingram Q4

Revs up on swings and roundabouts

The weakened dollar helped Ingram Micro boost its margins in the fourth quarter, the distributor’s latest results show.

Ingram’s sales in the fourth quarter were $7.45bn, 10.2% up on the same period the year before. The figures included $400m from the Tech Pacific operation it acquired in November last year.

European sales increased 8% to $2.99bn, driven by “strengthening European currencies”. In local currencies, sales were flat on an “extraordinarily strong” previous year.

Net income was $79.2m, including benefits of $19.3m, mainly related to currency hedging on its Australian dollar purchase of Tech Pacific. The previous year, it had net income of $46.4m, which included $8.7m of major-program costs associated with its profit enhancement program.

For the full year, sales were $25.5bn compared to $22.6bn the previous year, with the strengthening of the European currencies accounting for 4 per cent of the increase. Full year net income was $219.9m, compared to $149.2m the previous year.

Ingram said it expects solid demand in the first quarter, with sales coming in between $7bn and $7.2bn, and net income of $47m to $50m.

®

Related stories

Ingram Micro unites Europe

Ingram buys Aussie distie for $493m

Ingram Micro sales solid

alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede
FBcoldstoragearray
Sorry OpenStack and Open Compute, we're not all Facebook
Gary Kovacs, CEO of AVG. Pic: World Economic Forum
Scammy download sites? Government snooping? Run of the mill for Gary Kovacs