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What: Ingram Micro
So what: Investors must be relieved that the company didn't repeat last quarter's massive EPS miss. EPS of $0.37 declined 10% year over year, but met the consensus estimate. Revenue of $8.75 billion increased 7% year over year; excluding currency effects, it climbed 1% year over year.
Now what: The botched IT transition in Australia that drove last quarter's disappointment seems to be getting back on track. Management expects third-quarter sales to be "roughly in line with historical seasonality," which is encouraging, given all the gloomy macroeconomic news. Looking longer-term, the CEO stated, "...we believe our investments in system enhancements and other strategic initiatives will lead the way to enhanced service for our customers, and a more competitive and profitable company." Despite the potential for margin improvement, the P/E ratio is a low 9.6.
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.