Ingram Micro Reaffirms Fourth-Quarter Guidance in Advance of Investor Conferences
SANTA ANA, Calif., Nov. 30 -- Ingram Micro Inc. (NYSE:IM), the world's largest technology distributor, today reaffirmed its guidance for the fourth quarter ending Dec. 29, 2007, in advance of executive presentations at upcoming investor conferences in December.
As originally reported on Oct. 25, 2007, sales are expected to range from $9.70 billion to $9.95 billion, with net income ranging from $103 to $108 million or $0.58 to $0.61 per diluted share based on 178 million weighted average shares outstanding and an effective tax rate of 27 percent.
This guidance excludes any potential gain that may be recognized on the sale of the Company's small semiconductor distribution business, based primarily in Singapore, to TOMEN Electronics Corporation. The transaction, which was announced by TOMEN on Nov. 22, 2007, is expected to close before the end of the year.
"Despite widely reported concerns about the macro-economic environment, we are comfortable with our guidance for the fourth quarter," said Gregory M. Spierkel, chief executive officer, Ingram Micro Inc. "Sales are expected to hit another record for the quarter and for the 2007 fiscal year, fueled by our success in adjacent markets and geographic expansion."
The company's reaffirmation of guidance is in advance of the following investor events:
o Thursday, December 6, 2007
Lehman Brothers Global Technology Conference
The Fairmont Hotel - San Francisco, CA
11:00 a.m. PT (2:00 p.m. ET)
Presenter: William D. Humes, executive vice president & CFO
o Wednesday, December 12, 2007
Raymond James 2007 Supply Chain Investor Conference
The Waldorf Astoria - New York, NY
12:00 p.m. ET
Presenters: Gregory M. Spierkel, CEO
William D. Humes, executive vice president & CFO
To access the live audio webcasts of the presentations, visit the Investor Relations page of www.ingrammicro.com/. The archived versions will be available for approximately one week following the event.
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 more than 150 countries and is the only global broad-based IT distributor with operations in Asia. Visit www.ingrammicro.com/.
Source: Ingram Micro Inc.
CONTACT:
media,
Rekha Parthasarathy,
+1-714-382-1319,
rekha@ingrammicro.com, or
Kay Leyba,
+1-714-382-4175,
kay.leyba@ingrammicro.com,
all of Ingram Micro Inc.
Web site: http://www.ingrammicro.com/
