Ingram Micro announces record first-quarter results

Technology distributor Ingram Micro has announced financial results for the first quarter of 2011, ended 2 April 2011.

Worldwide sales were $8.7bn (£5.3bn), representing a first-quarter record and an eight per cent increase from the $8.1bn reported in the first quarter of last year.

The translation effect of foreign currencies had a positive impact of approximately two percentage points on prior-year comparisons.

Net income was $56.3m, or $0.34 per diluted share, compared with $70.3m, or $0.42 per diluted share, in the first quarter of 2010.