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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."

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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.