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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) 

 

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