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Non-Tech : Ingram Micro

IM 38.89

0.0%

Dec 13 4:00 PM EST

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To: E_K_S who wrote (515)	2/17/2000 11:49:00 PM
From: Reseller	Read Replies (2) of 576

A few thoughts about last quarters report. I want to continually go back to,.. net sales for the fourth quarter of 1999 grew 26 percent to $7.83 billion, .. something is missing here, where's Y2k ? Everyone else says slow because of Y2k, it looks like they should have said... slow because...Ingram is kicking butt. A write down of inventory... Cost of Sales during the fourth quarter of 1999 includes provisions substantially larger than the company's historical experience for excess and slow-moving inventory.... The total provisions for these two items equal $102 million or 1.30 percent of sales. Now this doesn't make sense, here we have record sales up 26% to an astounding 7.83 billion and they are providing for substantially larger than the company's historical experience for excess and slow-moving inventory. This is the place where the stock gain was parked, safe from tax exposure. Were well into the first quarter and have been given .60 to .64 cents per share. next quarter is taken care of. Credit for sales increases was given to e-commerce distribution They are doninating the e-commerce trade. With b to b a major push I rate Ingram a strong buy, Regards Reseller

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