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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (60598)	2/15/2002 4:02:13 AM
From: StanX Long	Read Replies (1) of 70976

Ingram Micro 4th-Qtr Profit Falls as Sales Tumble 24% (Update2) By Jim Finkle 02/14 18:43 quote.bloomberg.com Santa Ana, California, Feb. 14 (Bloomberg) -- Ingram Micro Inc., the biggest computer-products distributor, said fourth- quarter profit tumbled as businesses and consumers bought fewer personal computers, making sales fall 24 percent from a year ago. The company also said first-quarter sales and profit forecasts will fall short of analysts' estimates. Fourth-quarter net income fell to $5.7 million, or 4 cents a share, from $57.9 million, or 39 cents, in the year-earlier period, the company said in a statement. Sales for the period ended Dec. 29 fell to $6.14 billion from $8.07 billion. Ingram Micro's sales have tumbled along with demand for PCs from companies including Compaq Computer Corp., Hewlett-Packard Co. and Gateway Inc. Last year was the PC industry's roughest since it was created in the 1980s by Apple Computer Inc. and International Business Machines Corp. Last year ``was a tough year for the entire IT industry,'' Ingram Micro Chief Executive Kent Foster said in a conference call with investors. ``We obviously cannot predict when demand for IT products will return.'' Ingram Micro shares fell 4 cents to $16.95 in trading on the New York Stock Exchange before the company's announcement. The company's shares have fallen 2.1 percent so far this year.

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