Thursday, July 31, 2003
Ingram Micro Inc., the world's largest distributor of computers and electronics, said its quarterly profit rose to $11.5 million from $8.8 million last year amid expense cutting operation. Revenue declined to $5.17 billion from $5.35 billion.
Analysts had forecast the company to post a profit of 11 cents a share on revenue of $5.17 billion, according to Reuters Research.
Ingram said it expects third-quarter revenue of $5.18 billion to $5.35 billion, and profit before items of $21 million to $25 million, or 14 cents to 17 cents a share.
Analysts expect a per-share profit of 15 cents a share on revenue of $5.2 billion.
By: DocMemory
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