Ingram Micro has reaffirmed its guidance for its first quarter which finishes April 2. The distribution giant expects sales to come in between $7bn and $7.2bn, generating net income of $47m to $50m.

This range reflected historical norms, Ingram said, even excluding its recent Tech Pacific buy and despite “pockets of increased competition and economic softness in specific markets.”

Ingram’s sales in the fourth quarter were $7.45bn, 10.2 per cent up on the year. Net income was $79.2m compared to $46.4m the previous year. The fourth quarter figures received a boost from the dollar's weakness, and presumably the first quarter figures should get a similar fillip.

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