Technology bellwether Ingram Micro Inc. said Tuesday that it continued to see solid global demand in the second quarter, though there was some weakness in prices.
Santa Ana-based Ingram, the world’s largest distributor of technology products, said sales in the period rose 8% to $7.4 billion,its biggest second quarter ever. Sales were higher than Wall Street forecasts of $7.3 billion, according to Thomson Financial.
Net income rose 29% to $53.8 million, versus a year ago, in line with expectations. Ingram’s profit last year was impacted by costs associated with its buy of Tech Pacific, among other one-time charges.
“Demand continues to be solid throughout the world, with competitive pressures affecting pricing in certain markets,” said Chief Executive Gregory Spierkel.
Ingram said the company’s European sales were down slightly from a year ago in the second quarter. Europe made up about 32% of the company’s total sales in the quarter.
“The market environment in Europe was challenging during the quarter, as reported by many of our peers, but we were able to mitigate single-market obstacles through our diversified global footprint and expansion into adjacencies,” Spierkel said.
Revenue in North America was up 14%. The region accounted for about 45% of the company’s sales in the quarter.
Ingram said it expects sales of $7.3 billion to $7.5 billion and net income of $49 million to $56 million in the third quarter.
