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Ingram Micro Inc. Presents At Barclays Capital Global Technology, Media And Telecommunications Conference, May-23-2012 01:45 PM

Ingram Micro Inc. (IM)

May 23, 2012 1:45 pm ET

Executives

William D. Humes - Chief Operating and Financial Officer

Damon S. Wright - Senior Director of Investor Relations

Analysts

Benjamin A. Reitzes - Barclays Capital, Research Division

Presentation

Benjamin A. Reitzes - Barclays Capital, Research Division

Let's get started with Ingram Micro. So everybody, I guess, is out of the Verizon keynote. So let's get started.

Today, we have Damon Wright with Investor Relations, as well as Bill Humes who's now -- who's taking on the additional role of COO from -- as well as keeping the role of CFO. So now I think you're in charge here or have a hand in everything.

William D. Humes

Just about -- yes across the board. Yes.

Benjamin A. Reitzes - Barclays Capital, Research Division

Okay. So we're going to get right into Q&A. As you guys know, a huge distributor, almost invented the category. And I don't know which came first. But we're just going to go right to questions.

I know it's an interesting an operating environment right now. But do you mind just kind of starting out with some of your longer-term goals, kind of, get us focused on the long term. And then let's drill down what happened recently in the short term. You have some pretty interesting long-term targets that are -- have the potential to drive some earnings upside from here.

William D. Humes

No, absolutely. Thanks, Ben. Overall, as we communicated at our Analyst Day back in November of 2011, we have certain goals, I mean, I'd say the financial goals, the key ones for EPS level of $2.60 to $3.10 earnings per share, which is really driven by an operating margin achievement level on a consolidated basis of 155 to 175 basis points of operating margin on a full year basis, with an ROIC of approximately 300 to 500 basis points above weighted average cost of capital. Right now, weighted average cost of capital is about a little bit shy of 9, probably mid 8s. If you consider all different factors.

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