Updated: Ingram Micro celebrates record year
- 11 February, 2011 08:57
Ingram Micro has reported record net income for its global 2010 fiscal year.
Financial results show Ingram's worldwide sales for the fourth quarter were at $US9.98 billion, an increase of 12 per cent on the same period last year.
For the full year, worldwide sales increased by 17 per cent to $US34.59 billion.
Net income for the full year was $US318.4 million, a record $US1.94 per diluted share. This is a jump of more than $US100 million from 2009.
Asia-Pacific sales increased by 15 per cent to $US1.98 billion, or 20 per cent of total sales. This strong result was in partly due to the strength of currencies such as the Australian dollar.
The translation impact of stronger local currencies had a five percentage-point positive effect on revenue growth.
"We ended the decade and the year in record-breaking fashion," Ingram Micro chief executive officer, Gregory Spierkel, said.
"Earnings per share were at historic highs for the full year and fourth quarter. Net income for the full year also hit a record. Annual sales growth was the strongest since 1999.
"Sales levels for Asia-Pacific and Latin America reached quarterly highs and sales growth in North America - for both the fourth quarter and the year - was the strongest in 10 years.
"While the strong demand for technology products provided a welcome tailwind, our people and strategic focus deserve the credit for making this a stellar year.
"We delivered on our strategy - with greater growth, profitability and returns - and we are well positioned for further leadership in 2011."