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Ingram Micro Reports 2012 First Quarter Financial Results

SANTA ANA, Calif. April 26, 2012 Mar. 31

$8.64 billion $8.72 billion

$467.6 million $454.1 million

$90.0 million 58 cents 15 cents

  • $28.5 million 18 cents
  • $3.1 million 1 cent
  • $4.8 million 2 cents the United States $4.9 million

$56.3 million 34 cents $5 million 2 cents North America $4.9 million 2 cents

Further detail can be found in the financial statements and schedules attached to this news release or at .

Key 2012 first quarter highlights:

  • North America $2.5 million
  • Latin America
  • Asia Pacific China India
    • Australia
  • Europe Germany United Kingdom
  • Working capital days were 25, within the company’s targeted range of 22 to 26 days.

Alain Monie

Bill Humes


For the 2012 second quarter, sales are expected to be flat to slightly up sequentially. 2012 second quarter gross margin is expected to trend down sequentially, reflecting the removal of the residual benefit from hard disk drive pricing realized in the 2012 first quarter, as well as normal seasonal declines such as lower fee-based logistics business.

Conference Call and Webcast

5 p.m. ET the United States Canada the United States Canada

Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995

The matters in this press release that are forward-looking statements are based on current management expectations. Certain risks may cause such expectations to not be achieved and, in turn, may have a material adverse effect on Ingram Micro’s business, financial condition and results of operations. Ingram Micro disclaims any duty to update any forward-looking statements. Important risk factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, without limitation: (1) we are dependent on a variety of information systems, which, if not properly functioning, or unavailable, could adversely disrupt our business and harm our reputation and earnings; (2) changes in macro-economic conditions may negatively impact a number of risk factors which, individually or in the aggregate, could adversely affect our results of operations, financial condition and cash flows; (3) we continually experience intense competition across all markets for our products and services; (4) we operate a global business that exposes us to risks associated with conducting business in multiple jurisdictions; (5) our failure to adequately adapt to IT industry changes could negatively impact our future operating results; (6) terminations of a supply or services agreement or a significant change in supplier terms or conditions of sale could negatively affect our operating margins, revenue or the level of capital required to fund our operations; (7) we have made and expect to continue to make investments in new business strategies and initiatives, including acquisitions, which could disrupt our business and have an adverse effect on our operating results; (8) substantial defaults by our customers or the loss of significant customers could have a negative impact on our business, results of operations, financial condition or liquidity; (9) changes in, or interpretations of, tax rules and regulations, changes in mix of our business amongst different tax jurisdictions, and deterioration of the performance of our business may adversely affect our effective income tax rates or operating margins and we may be required to pay additional taxes and/or tax assessments, as well as record valuation allowances relating to our deferred tax assets; (10) changes in our credit rating or other market factors such as adverse capital and credit market conditions or reductions in cash flow from operations may affect our ability to meet liquidity needs, reduce access to capital, and/or increase our costs of borrowing; (11) failure to retain and recruit key personnel would harm our ability to meet key objectives; (12) we cannot predict with certainty what loss we might incur as a result of litigation matters and contingencies that we may be involved with from time to time; (13) we may incur material litigation, regulatory or operational costs or expenses, and may be frustrated in our marketing efforts, as a result of new environmental regulations or private intellectual property enforcement disputes; (14) we face a variety of risks in our reliance on third-party service companies, including shipping companies for the delivery of our products and outsourcing arrangements; (15) changes in accounting rules could adversely affect our future operating results; and (16) our quarterly results have fluctuated significantly.

Dec. 31, 2011

About Ingram Micro Inc.

© 2012 Ingram Micro Inc.  All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.

Ingram Micro Inc.

Consolidated Balance Sheet

(Amounts in 000s)


March 31,

December 31,




Current assets:

Cash and cash equivalents



Trade accounts receivable, net






Other current assets



Total current assets



Property and equipment, net



Intangible assets, net



Other assets



Total assets




Current liabilities:

Accounts payable



Accrued expenses



Short-term debt and current maturities of long-term debt



Total current liabilities



Long-term debt, less current maturities



Other liabilities



Total liabilities



Stockholders’ equity



Total liabilities and stockholders’ equity



Ingram Micro Inc.

Consolidated Statement of Income

(Amounts in 000s, except per share data)


Thirteen Weeks Ended

March 31, 2012

April 2, 2011

Net sales



Cost of sales



Gross profit



Operating expenses:

Selling, general and administrative


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