LOS ANGELES, April 24 (Reuters)—Ingram Micro Inc (IM.N: Quote, Profile, Research) posted higher profits on Thursday, but said it was restructuring operations Europe, Middle East and Africa to generate about $18 million to $24 million in annual savings.
Ingram Micro said higher revenues and the positive impact of stronger foreign currency translations, helped first-quarter results, but that softness in Europe and North America was exerting pressure on its operations in those regions.
First-quarter net income rose to $64.1 million, or 37 cents per share, from $37 million, or 21 cents per share, a year earlier. The year-ago figures included a charge of $33.8 million, or 19 cents a share.
Revenues rose 4 percent to $8.58 billion
(Reporting by Sue Zeidler, editing by Richard Chang)
© Thomson Reuters 2008. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
Channel News and Analysis 
