Santa Ana-based Ingram Micro Inc. topped estimates in a record-setting fourth quarter as the company saw sales growth across the globe.
The world’s biggest distributor of technology gear said adjusted net earnings rose 38% in the fourth quarter to $90 million, versus a year earlier.
The results beat the company’s guidance, which it reaffirmed in early December, for income of $78 million to $84 million.
Ingram Micro’s sales of $7.96 billion in the quarter were at the high end of it sales projections. Sales were up 7% from a year earlier.
The sale and profit gains came from growth in all four of its major geographic areas:
* North American sales, which make up 41% of overall revenue, rose 4% from a year ago.
* European sales were up 1% from the year ago period, but would have been up 10% without a stronger dollar.
* Asia-Pacific sales, which make up 16% of revenue, were up 27% from the year ago period.
* Latin American sales, 5% of overall sales, climbed 25%.
The stock was up 4% to $21 in afterhours trading.
Ingram Micro Chief Executive Greg Spierkel said the fourth quarter marked record net income. The company has focused on cost cutting and more profitable businesses during the past few years.
“It’s all moving in the right direction,” Spierkel said.
