Santa Ana-based Ingram Micro Inc. today reported third-quarter revenue that beat Wall Street expectations and adjusted profits in line with estimates.
The company, which operates under razor-thin margins, posted revenue of $11.2 billion in the recently ended quarter, up 11% compared to a year earlier and beating analyst forecasts of $10.9 billion.
Net income hit $98 million, up 18% from a year ago.
Operating margins were 1.43%, up from 1.33%.
Ingram is the world’s largest distributor of computers, software and other technology products, with sprawling operations around the globe.
The company provided an a revenue and profit outlook in the current quarter, its busiest of the year due to the holiday shopping season when it distributes a wider range of products including toys, sporting equipment and other gifts.
It projects revenue to increase to $12.1 billion to $12.5 billion, in line with Wall Street expectations of $12.4 billion.
Net income is projected at $147. 8 million to $158.7 million, in line with analyst forecasts of $150.9 million.
Shares were up about half of a percent in afterhours trading to a market value of about $3.87 billion.
