Ingram announces sales and profit increase

Technology distributor Ingram Micro has announced double-digit increases in sales and profits for the first quarter ended 3 April 2010.

Worldwide sales for the first quarter were $8.1bn (£5.3bn), an increase of 20 per cent compared with sales of $6.75bn in the prior-year first quarter.  

Net income grew at a greater rate than sales, reaching $70.3m, or $0.42 per diluted share, while net income in the prior-year quarter was $27.5m, or $0.17 per diluted share.