SANTA ANA, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Ingram Micro Inc. (NYSE: IM), the world's largest technology distributor, today reaffirmed its guidance for the third quarter ending Oct. 2, 2004, in advance of executive presentations at two investor conferences in September.
As announced on July 29, 2004, the company expects sales to range from $5.7 to $5.9 billion, with net income ranging from $25 to $30 million or $0.16 to $0.19 per share.
"The quarter is tracking to our expectations," said Kent B. Foster, chairman and chief executive officer, Ingram Micro Inc. "Demand remains solid, with sales expected to grow 9 to 13 percent over last year."
The company's presidents are scheduled to present at the following investor conferences in the coming weeks:
* Thursday, Sept. 9, 2004
Smith Barney Citigroup Technology Conference
Sheraton New York Hotel, New York, N.Y.
1:35 p.m. Eastern Time (10:35 a.m. Pacific Time)
Presenter: Gregory M. Spierkel, president
* Thursday, Sept. 23, 2004
Banc of America Securities 34th Annual Investment Conference
Ritz Carlton Hotel, San Francisco, Calif.
11 a.m. Eastern Time (8 a.m. Pacific Time)
Presenter: Kevin M. Murai, president
To access the live audio webcasts of these presentations, visit the Investor Relations page of www.ingrammicro.com. The archived versions will be available for approximately one week following the events.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
The matters in this press release that are forward-looking statements, including but not limited to statements about future sales levels, margins, restructuring charges, major-program costs, cost savings, operating efficiencies, and profitability, are based on current management expectations that involve certain risks which, if realized, in whole or in part, could have a material adverse effect on Ingram Micro's business, financial condition and results of operations, including, without limitation: (1) intense competition, regionally and internationally, including competition from alternative business models, such as manufacturer-to-end-user selling, which may lead to reduced prices, lower sales or reduced sales growth, lower gross margins, extended payment terms with customers, increased capital investment and interest costs, bad debt risks and product supply shortages; (2) termination of a supply or services agreement with a major supplier or customer or a significant change in supplier terms or conditions of sale; (3) failure of information processing or data security systems could result in significant disruption of business and/or additional costs to Ingram Micro; (4) worsening economic conditions (particularly in purchases of technology products) and failure to adjust costs in a timely fashion in response to a sudden decrease in demand; (5) losses resulting from significant credit exposure to reseller customers and negative trends in their businesses; (6) delays or failure to achieve the benefits of process or organizational changes we may implement in the business; (7) disruptions in business operations due to reorganization activities; (8) rapid product improvement and technological change and resulting obsolescence risks; (9) possible disruption in commercial activities caused by terrorist activity or armed conflict, including changes in logistics and security arrangements as a result thereof, and reduced customer demand; (10) dependence on key individuals and inability to retain personnel; (11) reductions in credit ratings and/or unavailability of adequate capital; (12) interest rate and foreign currency fluctuations; (13) adverse impact of governmental controls and actions or political or economic instability which could adversely affect foreign operations; (14) failure to attract new sources of business from expansion of products or services or entry into new markets; (15) inability to manage future adverse industry trends; (16) difficulties and risks associated with integrating operations and personnel in acquisitions; (17) future periodic assessments required by current or new accounting standards which may result in additional charges; and (18) dependence on independent shipping companies.
Ingram Micro has instituted in the past and continues to institute changes to its strategies, operations and processes to address these risk factors and to mitigate their impact on Ingram Micro's results of operations and financial condition. However, no assurances can be given that Ingram Micro will be successful in these efforts. For a further discussion of significant factors to consider in connection with forward-looking statements concerning Ingram Micro, reference is made to Exhibit 99.01 of Ingram Micro's Annual Report on Form 10-K for the year ended January 3, 2004; other risks or uncertainties may be detailed from time to time in Ingram Micro's future SEC filings. Ingram Micro disclaims any duty to update any forward-looking statements.
About Ingram Micro Inc.
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves 100 countries and is the only global IT distributor with operations in Asia. Visit www.ingrammicro.com.
(C) 2004 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.
SOURCE Ingram Micro Inc.
-0- 08/31/2004
/CONTACT: Media, Jennifer Baier, +1-714-382-2692,
Jennifer.baier@ingrammicro.com, or Marie Meoli, +1-714-382-2190,
marie.meoli@ingrammicro.com, or Investors, Ria Marie Carlson, +1-714-382-4400,
ria.carlson@ingrammicro.com, all of Ingram Micro Inc./
/Web site: http://www.ingrammicro.com /
(IM)
CO: Ingram Micro Inc.
ST: California
IN: CPR
SU: ERP TDS CCA
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9824 08/31/2004 16:15 EDT http://www.prnewswire.com