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Earnings

Ingram Micro net income falls 57%

July 31, 2009|Times Wire Reports

Ingram Micro Inc. of Santa Ana, which provides technology products and supply chain management services, said its second-quarter net income declined 57% to $25.3 million as sales dropped 25%.

The earnings amounted to 15 cents a share, compared with a profit of $58.9 million, or 35 cents, a year earlier. Revenue fell to $6.58 billion.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items, were expecting second-quarter profit of 20 cents a share on revenue of $6.67 billion.

Ingram shares gained 40 cents to $18.54.

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