Bright Spot in the Quarter? Lease FinancingBy Jessica Davis | Posted 2008-10-24 Email Print
Disappointing revenues, low visibility and more interest in lease financing characterized the quarter for technology distributors Ingram Micro and Avnet, reporting their earnings on Oct. 23. The reports come in the aftermath of a Wall Street meltdown that is causing a global economic crisis. It's a "different universe," says Ingram Micro's CEO.
A bright spot in the quarter came as the distributors noted an uptick in requests for lease financing quotes.
"[Our partners'] end users are requesting more lease quotes than they've ever requested before," said Paget. "Leasing is definitely available. All the major vendors have captive leasing programs, and there is certainly money available in the market for leases.
"Are we lending more? Yes," said Ingram Micro CEO Spierkel, "where they look like they are solid. No, where the opportunities to make a return don't look so good."
Spierkel told financial analysts, during a call following the earnings release, that the company had not yet noticed any delays in repayments from SMB end customers, but it was keeping a watchful eye.