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Ingram Micro grows LatAm sales

Bnamericas Published: Thursday, April 24, 2014

US IT hardware and services wholesaler Ingram Micro (NYSE: IM) increased its Latin American sales 6.8% year-on-year to US$494mn in 1Q14 from US$462mn.

Ingram Micro also reported in its earnings release that Latin America GAAP operating income grew 60.7% to US$9mn from US$5.6mn.

Overall, the company's net income fell 50.2% to US$24.8mn from US$49.8mn, with global sales nearly flat at US$10.4bn.

The company said strong growth in Latin America and Europe was partially offset by lower handset sales in Indonesia.

For its second quarter outlook, Ingram Micro projects global revenue to increase in low to mid-single digits.

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