The Reuters abbreviation has a different tone than the actual release.
biz.yahoo.com
Including revised estimates for the 1998 fourth quarter, Ingram Micro expects its full-year net sales to grow more than 30 percent reaching between $21.8 and $22.0 billion, compared with $16.6 billion for all of 1997. Its full-year net income is expected to grow more than 25 percent to more than $240 million, resulting in earnings per share of between $1.63 and $1.65, including the noncash compensation charge.
''We expect 1998 to be a record year for Ingram Micro, with the highest revenues end net income in the company's history,'' said Jerre Stead, chairman and chief executive officer. ''Although for the fourth quarter we experienced slower than expected PC sales in the United States, we anticipate restored momentum for even greater success in 1999.''
Based on analysis of quarter-to-date results and current business conditions, Ingram Micro expects record net sales for the 1998 fourth quarter to be between $6.0 and $6.2 billion, growing 17 to 21 percent over the same period last year, which had five additional selling days. Based on attaining this level of net sales, the company expects to post the highest net income for a quarter in its history, ranging from $73 to $75 million or $0.48 to $0.50 per share for the 1998 fourth quarter. |
