Ingram Result 25/04/2017

By Jasmine Kang Sodha

Ingram Micro announced its FY16 Q4 result with consolidated sales of $12.2 billion and operating profit of $4.8 million and a net loss of $34.6 million. Compared on a yearly basis, the quarterly sales were up by 8% while both operating profit and net income were down significantly from $196.1 million and $141.2 million respectively a year ago. This was primarily due to the negative impact of approximately $175 million in restructuring, merger and transition costs related to HNA Group’s acquisition of Ingram Micro in December 2016.

For the full FY16, sales were $41.9 billion with operating profit of $277 million and net income of $100 million. The sales decreased by 1.5% on yearly basis while the operating profit and net profit fell by 33% and 53% respectively.