Santa Ana-based Ingram Micro Inc. topped estimates for sales in the third quarter.
The electronics distributor said adjusted earnings during the quarter nearly doubled to $60 million from a year ago, versus estimates of $49.5 million.
But the company’s adjusted earnings don’t include acquisition-related costs, funds for buying back debt notes and other items.
Without the adjustments, the company earned $48.4 million, a decline of 42% from the year-ago period, which saw a one-time tax gain.
Revenue during the third quarter climbed 16% to $6.96 billion and slightly beat estimates of $6.95 billion.
The company credited profit growth from its North American operations, which have outsourced some work to lower-cost regions.
Ingram also continued to take market share in Europe.
The company forecast fourth-quarter revenue of $7.75 billion to $8 billion and earnings,excluding special items,of $78 million to $84 million.
