Ingram Micro Reaffirms Third-Quarter Guidance in Advance of Investor Conferences
August 31 2006 - 5:00PM
PR Newswire (US)
SANTA ANA, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Ingram Micro
Inc. (NYSE:IM), the world's largest technology distributor, today
reaffirmed guidance for the third quarter of 2006, which ends Sept.
30, 2006. As originally reported on July 25, 2006, sales are
expected to range from $7.3 billion to $7.5 billion, with net
income ranging from $49 to $56 million or $0.29 to $0.33 per
diluted share based on 170 million weighted average shares
outstanding and an effective tax rate of 28 percent. Net income
estimates include pre-tax expenses of approximately $8.0 million
($0.03 per diluted share) for the effect of non-cash stock-based
compensation, as well as approximately $5.0 million ($0.02 per
diluted share) for incremental investments in information
technology capabilities. These expenses were not included in the
results for the year-ago quarter. "The quarter is proceeding in
line with our expectations," said Gregory M. Spierkel, chief
executive officer, Ingram Micro Inc. "Demand remains stable, within
historical seasonal norms, and our growth and differentiation
initiatives continue to gain traction and contribute to results."
The company is scheduled to participate in the following investor
events: * Wednesday, September 6, 2006 Citigroup 13th Annual Global
Technology Conference Hilton New York Hotel -- New York Investor
meetings, but no formal presentation * Wednesday, September 20,
2006 Bank of America 36th Annual Investment Conference The
Ritz-Carlton -- San Francisco, California 1:30 p.m. PT (4:30 p.m.
ET) Presenter: William D. Humes, executive vice president and
worldwide chief financial officer To access the live audio webcast
of this presentation, visit the Investor Relations page of
http://www.ingrammicro.com/. The archived version will be available
for approximately one week following the events. About Ingram Micro
Inc. As a vital link in the technology value chain, Ingram Micro
creates sales and profitability opportunities for vendors and
resellers through unique marketing programs, outsourced logistics
services, technical support, financial services, and product
aggregation and distribution. The company serves 140 countries and
is the only global broadline IT distributor with operations in
Asia. Visit http://www.ingrammicro.com/. (C) 2006 Ingram Micro Inc.
All rights reserved. Ingram Micro and the registered Ingram Micro
logo are trademarks used under license by Ingram Micro Inc.
DATASOURCE: Ingram Micro Inc. CONTACT: Media, Jim Trainor,
+1-714-382-2378, , or Chris Kelly, +1-714-382-3355, , or Investors,
Ria Marie Carlson, +1-714-382-4400, , or Kay Leyba,
+1-714-382-4175, , all of Ingram Micro Inc. Web site:
http://www.ingrammicro.com/
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