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Ingram Micro Shares Rise on Sunny Outlook

Shares of Santa Ana’s Ingram Micro Inc., the biggest distributor of computers, software and consumer electronics, rose on Thursday after the company gave a rosy outlook for the current quarter and the balance of the year.

Investors sent shares up 2% in afterhours trading on a recent market value of $3 billion.

Although Chief Executive Greg Spierkel didn’t give financial guidance, his remarks were upbeat and he had an overall positive outlook.

Ingram is beginning to recover as companies begin to buy technology products and services.

“For the second quarter, we expect strong year-over-year growth to continue,” Spierkel said. “I’m looking forward to this year. The economic recovery is becoming more tangible and our business improvements have set the stage for continued success. The team is energized and working toward making 2010 one of the best years in our history.”

For the current quarter, analysts are expecting Ingram to see adjusted profits of $58 million, up approximately 75% from a year earlier, on sales of $7.8 billion, which represents an 18% climb year-over-year.

The rosy outlook comes on the heels of Ingram’s first quarter results, which surpassed Wall Street’s expectations.

For the three months through April 3, Ingram reported $8.1 billion in sales, up 20% from the same period a year earlier and beating analysts’ expected $7.9 billion in revenues.

Excluding a onetime gain for a real estate sale in Germany, Ingram posted $68 million in profits, up 74% from the year-ago quarter and beating analysts’ expected $64 million in profits.

The company ended the quarter with some $911 million in cash and short-term assets.

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