October 31, 2003 |
Ingram Micro Inc., the world's biggest distributor of computers and related parts, returned to profit in its third quarter as it cut expenses and benefited from an tax decision. Ingram reported profit of $81.2 million, or 53 cents a share, from a loss of $8.32 million, or 6 cents, a year earlier. Sales at the Santa Ana company fell 7% to $5.21 billion. Ingram Micro said it had a benefit of $70.5 million,because it didn't owe U.S. income taxes on a 1999 sale of stock in Japan's Softbank Corp.
May 6, 2003 |
Ingram Micro Inc., the No. 1 distributor of computers and parts, will change an employee incentive plan to win the backing of Fidelity Investments, which owns 4% of the Santa Ana company's shares.
April 30, 2003 |
Ingram Micro Inc., the world's biggest distributor of computers and parts, reported Tuesday that it had a first-quarter profit after a loss last year. But the firm also said that its decision to trim 900 jobs in the latest quarter means it will miss analyst forecasts this period. Net income was $10.1 million, or 7 cents a share, compared with a net loss of $265.4 million, or $1.74, in the year-ago period. Ingram Micro, based in Santa Ana, said it cut 7.
April 5, 2003 |
Santa Ana computer parts wholesaler Ingram Micro Inc. more than doubled the total compensation of its top officers last year as it was losing money and its stock was sliding. Ingram's annual proxy statement, filed Friday, shows that it awarded a $1.7-million bonus to Chairman and Chief Executive Kent Foster in 2002 on top of his $1.1-million base salary. In 2001, Foster earned a $31,000 bonus on nearly the same base salary.
February 21, 2003 |
Ingram Micro Inc. of Santa Ana had a fourth-quarter loss of $10.3 million because of restructuring costs. The net loss was 7 cents a share, contrasted with a profit of $5.66 million, or 4 cents, a year earlier, the company said. Sales fell 4.1% to $5.89 billion. Ingram Micro said first-quarter profit won't meet analysts' forecasts. Shares were unchanged at $10.05 on the New York Stock Exchange.
February 11, 2003 |
Ingram Micro Inc., the world's biggest distributor of computer parts, said fourth-quarter sales were at the high end of a company forecast of $5.75 billion to $5.90 billion and profit met or exceeded analysts' expectations of 18 cents a share, excluding some costs. Ingram Micro will release full fourth-quarter results Feb. 20. Shares of the Santa Ana company fell 16% on Friday after rival Tech Data Corp.
December 10, 2002 |
Ingram Micro Inc., the world's biggest distributor of computer parts, said fourth-quarter sales will be at the low end of its forecast because demand in North America is "softer" than expected. Santa Ana-based Ingram Micro reiterated an estimate for profit, excluding some costs, of $26 million to $29 million, or 17 cents to 19 cents a share. Sales will be at the lower end of the company's earlier forecast of $5.75 billion to $5.90 billion.
October 30, 2002 |
Technology distribution giant Ingram Micro Inc. reported Tuesday that it narrowed its fiscal third-quarter net loss to $8.3 million, or 6 cents a share, saying it is reaping benefits from a "profit enhancement" program focused on cost cutting. The distributor of technology products lost $13.3 million, or 9 cents a share, a year earlier. Sales slipped 3% to $5.6 billion in the quarter ended Sept. 28.
November 1, 2001 |
Standard & Poor's lowered Ingram Micro Inc.'s credit rating to junk bond status, citing the company's slowing sales and weak profitability. A day after the firm reported a third-quarter loss, S&P lowered its rating on the Santa Ana-based company one notch to BB-plus from BBB-minus, S&P's lowest investment grade rating. The ratings take into account a quarterly profit, excluding special charges, of $5.4 million.