Ingram Micro Reaffirms

The company sees stable demand.
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Tech distributor Ingram Micro (IM) reaffirmed fourth-quarter guidance.

The company said late Wednesday it continues to expect sales of $8.4 billion to $8.65 billion and net income of $85 million to $92 million, with EPS of 50 cents to 54 cents a share.

"We expect to reach record sales this quarter, based on our guidance," said Gregory M. Spierkel, chief executive officer, in a press release. "Our expected year-over-year sales growth of 6 to 9 percent exceeds third-party reports of overall IT spending trends. Demand remains stable and our regions continue to perform well."

Shares of Ingram Micro closed Wednesday down 5 cents to $20.55.