Santa Ana’s Ingram Micro Inc., the biggest distributor of technology goods, reaffirmed its second-quarter outlook on Wednesday.
Shares initially rose slightly on the news but ended flat Wednesday on a market value of about $3 billion.
The company is looking for profits of $59 million to $64 million on sales of $8.5 billion to $8.75 billion.
The outlook doesn’t include charges and severance payouts related to Ingram Micro’s cost-cutting plans in North America, Europe, the Middle East and Africa, the company said.
Ingram first gave a glimpse of its second-quarter earnings back in April.
The company, which nets pennies on the dollar, is working to get its arms around pricing.
“We employ a surgical pricing strategy, capturing share through lower pricing only when it makes strategic sense, as we are not interested in pursuing sales that do not contribute to profitability and returns,” Chief Executive Greg Spierkel said.
The company said it recently acquired the distribution business and some assets of China’s Cantechs Group Ltd., a maker of technologies for barcodes and data capture at the cash register.
Terms of the all-cash deal, which closed last week, weren’t disclosed.
Cantechs is set to be folded into the China operations of Ingram Micro Asia-Pacific as a stand-alone unit, the company said.
