Ingram Micro Delivers 74% Increase In Profits
Profits of $43M were achieved on revenues of $10.6 Billion, sales rose 2.5%. Unfavorable currency fluctuations negatively impacted net sales by 8 percent, the company said.
Ingram Micro CEO Alain Monie said the gains reflect “healthy demand across our geographic regions,” led by Asia Pacific and Latin America.
Earnings were also buoyed by expanded, higher-margin Cloud and supply-chain capabilities.
US sales trailed other regions due to lower mobile gross margins as a result of increased carrier channel sales and lower-than-expected resale pricing of returned handsets.
The company said it is addressing the underperforming areas of its mobility business and will either improve their profitability or exit those businesses.
Ingram Nicro also announced a global cost-cutting program that will save the company about $100 million a year starting in 2016, following a one-time, $100 million hit, ayoffs are expected in Australia.