Ingram Micro's Q2 Latin America sales hit US$387mn with "solid" results in Mexico

- Friday, July 29, 2011

Ingram Micro's Q2 Latin America sales hit US$387mn with

US hardware and services wholesaler Ingram Micro (NYSE: IM) experienced robust growth in its Mexican operation during the second quarter of 2011, company CEO Gregory Spierkel said during a conference call with investors.

"Mexico and Miami export were the top-performing business units, with both generating double-digit growth and solid operating margin expansion," Spierkel said. "We continue to make improvements in Brazil. The rest of the region performed better than expected."

The company posted Latin American revenues of US$387mn in the quarter, up from US$360mn in the year-ago period, the firm said in its earnings statement.

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Ingram Micro's Latin American operating income was US$6.5mn in the quarter compared to US$4.8mn in the year-ago period.

Globally, the company posted Q2 revenues of US$8.75bn, a 7% increase compared to US$8.16bn in 2Q10. Net profits reached US$59.7mn in the quarter, down from US$67.7mn in the year-ago period.

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