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Ingram Micro posts record quarter, but Australia still lagging

Julia Talevski | Feb. 15, 2013
Ingram Micro worldwide sales topped $US11.38 billion during the fourth quarter ending December 29, a 14 per cent increase from the same time last year.

Ingram Micro's worldwide sales topped $US11.38 billion during the fourth quarter ending December 29, a 14 per cent increase from the same time last year.

According to the distributor, the Australian arm was continuing to experience losses, recording a charge of $US41.8 million for a valuation allowance recorded against deferred tax assets.

Ingram Micro president and CEO, Alain Monie, stated it must return Australia to a profitable, growing business.

"We will maintain our historic focus on operational excellence, while combining improvements in returns on invested capital with revenue growth. Additionally, we will continue to examine opportunities to free up and reallocate capital from underperforming businesses into areas of better returns. Our overriding objective is to drive sustainable, long-term shareholder returns," Monie said.

"While we are entering 2013 well-positioned to drive better returns on capital and reasonable revenue growth across the business, there are several key objectives on which we must deliver."

More to follow.

 

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