INGRAM-MICRO's 3Q PROFIT FALLS

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INGRAM-MICRO's 3Q PROFIT FALLS

 user 2009-11-10 at 10:36:54 am Views: 49
  • #22896

    http://www.google.com/hostednews/ap/article/ALeqM5gmDWsS5iJFQoBeNC1RuH_0pxeTfgD9BL2G6G3
    INGRAM-MICRO’s 3Q PROFIT FALLS
    SANTA ANA, Calif. — Technology marketer and distributor Ingram Micro Inc. said Thursday its third-quarter profit fell but CEO Gregory Spierkel said the company made progress in reviving its falling sales.The shares rose in aftermarket trading after the results beat a Wall Street consensus estimate.The company, based in Santa Ana, Calif., earned $42.3 million, or 25 cents per share, in the quarter that ended Oct. 3. That is down from the $46.4 million, or 27 cents per share, it earned a year earlier.Adjusted profit of 29 cents per share, which excluded restructuring costs of 4 cents per share, beat a 20-cent-per-share prediction of analysts polled by Thomson Reuters.Revenue fell 11 percent to $7.38 billion from $8.28 billion, but also easily beat analysts’ $6.65 billion average estimate.Ingram shares rose 42 cents, or 2.4 percent, to $17.90 in aftermarket trading after closing Thursday at $17.48, up 3 percent on the day.