Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Ingram Micro announces global blockbuster fourth quarter; Australia performs strongly

Mike Gee | Feb. 17, 2014
Ingram Micro Australia is celebrating hitting budget as globally the company delivered a record-breaking fourth quarter ending December 28, 2013.

Non-GAAP net income and non-GAAP earnings per diluted share also exclude the impact of foreign exchange gains or losses related to the translation effect on Euro-based inventory purchases in Ingram Micro's pan-European entity and a net discrete tax benefit of $US28.5 million in 2012, primarily related to the write-off of the historical tax basis of the investment the company had maintained in one of its Latin American subsidiary holding companies. These non-GAAP financial measures are reconciled to their most directly comparable GAAP measures in the Supplementary Information section of this release.

The company listed the following ey 2013 fourth quarter business highlights:

  • The company's mobility business was accretive to 2013 fourth quarter non-GAAP earnings per diluted share by$US0.11 cents. This brings total accretion from the mobility business for the 2013 full year to $US0.35, above the company's target of $US0.34 that was initially established upon announcement of the acquisition of BrightPoint in July 2012.
  • Ingram Micro Mobility added new OEM distribution agreements in Europe, Asia Pacific and Latin America and won new logistics contracts in all regions.
  • Australia achieved the company's target for non-GAAP operating profitability in the 2013 fourth quarter, improving more than $12 million from the operating loss in last year's fourth quarter.
  • Ingram Micro added global enterprise IT asset disposition, onsite data destruction and e-waste recycling services for large enterprise customers, retail customers and OEMs, increasing its supply chain capabilities and solutions offerings with the acquisition of CloudBlue Technologies.
  • The company expanded its capabilities in the e-commerce logistics market with the acquisition of Shipwire, enhancing its ability to accelerate growth in the rapidly expanding e-commerce fulfilment industry, while also better enabling Ingram Micro Logistics (IML) to meet the e-commerce needs of large retailers with significantly reduced onboarding time, cost and complexity.
  • Leveraging the company's existing strong presence in distribution, Ingram Micro Mobility announced that it expanded into Latin America and now offers a full suite of wireless device lifecycle services in the region.
  • Based on its current ability to reach an extensive network of mobile devices and accessories resellers, Ingram Micro Mobility was named a core distributor of Samsung Mobile smartphone and tablet accessory products in the United States.
  • Cash flow from operations for the 2013 fourth quarter was $US353 million, bringing total 2013 full year cash flow from operations to $US466 million. This compares to 2012 fourth quarter and full year cash flow from operations of $US81 million and $US46 million, respectively.

In order to further enhance its ability to innovate and respond to market needs with greater speed and efficiency, the company also announced its plan to proceed with a global organisational effectiveness program that involves three critical aspects:

  • Aligning and leveraging the company's infrastructure globally with its evolving businesses, opportunities and resources;
  • De-layering and simplifying the organisation to enable the company to be more nimble, responsive and collaborative; and
  • Maintaining investments in expertise and capabilities to continue to transform the company's business mix in faster growing, higher margin businesses.


Previous Page  1  2  3  Next Page 

Sign up for Computerworld eNewsletters.