SANTA ANA — Ingram Micro Inc. said Wednesday that its third-quarter net income jumped 65%, exceeding analysts' estimates, on strong personal computer sales.
Executives of Ingram Micro, the world's biggest computer wholesale distributor, also said they expect strong industry demand in the fourth quarter as well, despite weakening Asian economies.
Ingram Micro said net income for the quarter climbed to $44.3 million, or 30 cents a share, from $26.9 million, or 22 cents a share, a year ago. The net income this year included a charge of $1.5 million, while the results a year ago included a charge of $645,000. Sales rose 41% to a record $4.1 billion from $2.9 billion.
Wall Street had expected Ingram Micro to earn 28 cents a share, according to Zacks Investment Research, which tracks analyst earnings forecasts.