Ingram Micro Tops Estimates
Ingram Micro
(IM)
posted a fourth-quarter profit, excluding charges, of $14.4 million, or 10 cents a share. That beat the consensus analyst estimate of 8 cents, according to Thomson Financial/First Call.
Including a restructuring charge, the company earned $5.66 million, or 4 cents a share, down from $57.9 million, or 39 cents a share, in the year-ago quarter.
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Revenue fell to $6.1 billion from $8.1 billion a year ago, but was up from $5.8 billion last quarter.
The computer product distributor also offered guidance for the first quarter, saying it expects a profit of $6 million to $12 million, or 4 cents to 8 cents a share, on sales of $5.55 billion to $5.70 billion. Analysts are expecting 10 cents a share, according to Thomson Financial/First Call.
Before the earnings release, shares of Ingram Micro closed at $16.95 on the
New York Stock Exchange
.
