Ingram Micro Reaffirms

It calls demand stable.
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Ingram Micro (IM) reaffirmed second-quarter guidance, calling demand stable.

The Santa Ana, Calif., tech distributor said it expects to make around 31 cents a share on revenue of $7.25 billion, in line with its April 25 forecast.

The quarter ending July 1 should include 3 cents a share in stock compensation expense and 2 cents worth of incremental investments in information technology capabilities.

"Demand is generally stable throughout the world," said CEO Gregory M. Spierkel. "As expected, we are experiencing margin pressure from a more competitive environment, especially in Europe, but we are managing through it well. We believe that the conclusion of recent vendor consolidation efforts in the region should create a more balanced distribution environment over time."

The company said it decided to reaffirm guidance ahead of Tuesday's appearance in New York at the Bear Stearns 17th Annual Technology Conference.

Shares fell 27 cents Thursday to $16.82.