INGRAM-MICRO's 3Q PROFIT FALLS

[Anonymous]

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.

[Author]

November 10, 2009 at 10:37 AM