The acquisition of Tech Pacific has impacted Ingram Micro’s globalb business with the region now worht 18 per cent of theocmpany’s revenues.

Reveneus for the second quarter were up year on year from US$5.72 billion last year to US$6.84 billion, a 20-percent increase. Net income was US$41.7 million up considerably over the year-ago period of US$25.9 million.
European sales were the quarter highlight for the company with a 15 per cent increase over last year, but the Asia-Pacific sales grew to US$1.20 billion or 18 percent of total revenues. This represented a 115 per cent increase primarily due to the acquisition of Tech Pacific. While the acquisition continues to spur growth in the region, the company remains focused on profitability as it integrates the operations, said the company in an official statement about the results.
Higher interest rates and the Tech Pacific acquisition blew out the company ‘other expenses’ to US$14.1 million versus US$9.8 million in the year-ago period. The company’s total debt was US$542 million, or 19 percent of total capitalisation, versus US$515 million at the end of last year.
“Our disciplined approach and successful diversification strategy produced excellent results,” said Gregory M. Spierkel, chief executive officer, Ingram Micro Inc. “Sales grew at a double-digit rate for the seventh consecutive quarter, while earnings per share (on a non-GAAP basis) exceeded our guidance and analysts’ estimates. Operating income (on a non-GAAP basis) hit the highest second-quarter level since 1999.”
The company’s Asia Pacific region posted a 96 percent operating income improvement YOY with $14.4 million or 120 basis points.