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Earnings Roundup / Ingram Micro

Firm posts loss as revenue declines

February 19, 2009|Times Wire Reports

Technology products distributor Ingram Micro Inc. swung to a fourth-quarter loss because of an impairment charge and weakening economic conditions.

For the three months ended Jan. 3, the Santa Ana company posted a loss of $564.3 million, or $3.48 a share, compared with a profit of $114.1 million, or 64 cents, a year earlier.

Revenue slipped to $8.68 billion from $10 billion. Ingram Micro said the sales drop was attributable in part to weaker foreign currencies.

Ingram Micro shares rose 4 cents to $12.33.

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