Ingram Posts Loss of $13.3 Million

Computer-products distributor Ingram Micro Inc., dragged down by the long, widespread slowdown in the technology industry, reported a third-quarter loss and said Tuesday that fourth-quarter sales probably won’t meet analysts’ forecasts.

But the Santa Ana company improved its operations in a tough sales environment for information technology products. It benefited from higher profit margins, reduced inventory and cost-cutting measures, mainly by consolidating offices worldwide and reducing its work force 18% this year.

Ingram posted a net loss of $13.3million, or 9 cents a share, for the quarter, compared with net income of $38.9 million, or 26 cents, for the period last year.

Excluding special charges, the company earned $5.4 million, or 4 cents a share. Industry analysts had expected it to earn 2 cents a share, according to a survey by Thomson Financial/First Call.

Sales fell to $5.8 billion from $7.6billion.

Executives expect fourth-quarter earnings of 4 cents to 10 cents a share, excluding special charges, on sales of $5.7 million to $6.2 million.

Analysts were expecting 10cents a share on revenue of $6.3billion, according to First Call.

Ingram Micro released its results after the stock market closed. Its stock lost 47 cents to close at $12.40 a share on the New York Stock Exchange.