Ingram Micro expects 'modest sales growth'

By Associated Press
July 24, 2008 | Comments (0)

Recs

0

Special Offer!

Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.

Motley Fool Pro

Technology products distributor Ingram Micro Inc. said Thursday it expects third-quarter earnings of 31 cents to 36 cents per share on sales of $8.5 billion to $8.8 billion.

The earnings estimate includes expenses related to the company's cost-cutting program in North America and Europe.

Analysts, on average, are expecting a profit of 40 cents per share on sales of $8.78 billion, according to a poll by Thomson Financial. Analysts typically exclude one-time items from their estimates.

"We expect the macro-economic softness to continue into the third quarter," said Gregory M. Spierkel, chief executive, in a statement. "Solid growth is expected from Latin America, but sales growth in the other regions will be more modest.

The stock closed down 16 cents to $18.05 Thursday.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 692482, ~/articles/articlehandler.aspx, 1/8/2009 3:16:18 AM

Sign up for FREE Motley Fool site access to keep reading:

“Ingram Micro expects 'modest sales growth'”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.