Ingram Micro Q2 Profit Rises - Quick Facts

(RTTNews) - Ingram Micro Inc. (IM) Wednesday reported second-quarter net income of $69.7 million or $0.45 per share, compared to $61.3 million or $0.40 per share in the comparable quarter last year.

Adjusted earnings for the quarter dropped to $0.55 per share from $0.43 per share in the year-ago period.

Worldwide sales for the quarter grew 17 percent to $10.31 billion from $8.78 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share on revenues of $10.44 billion for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects net income and adjusted net income to benefit from income of approximately $18 million after-tax, or $0.11 per share, related to a settlement from a class action proceeding seeking damages from certain manufacturers of LCD flat panel displays. Worldwide revenue is expected to be flat to slightly up sequentially, in line with historic seasonality.