Ingram Micro Profit Rises - Quick Facts

(RTTNews) - Ingram Micro Inc. (IM), a distributor of information technology products, Thursday reported third-quarter net income of $79 million or $0.50 per share, compared with $53 million or $0.35 per share last year.

Excluding items, adjusted earnings for the quarter were $83 million or $0.53 per share, compared with $62 million or $0.41 per share a year ago.

Revenues for the quarter were up 12% at $10.2 billion, compared with $9.03 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.53 per share on revenues of $10.52 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects gross margin to be up sequentially by high single digit basis points and worldwide revenue to increase over the 2013 third quarter in-line with historical seasonality.