Ingram Micro posts “record” Q4 financials

IMIngram Micro announced a record quarterly financial for the last months of 2012, driven by its acquisition of BrightPoint and Aptec.

However, it was also this move that cost it money, with the company claiming that restructuring costs as a result of the purchase led a loss in profitability.

For the fourth quarter of 2012 the distie reported worldwide sales of $11.38 billion, a 14 percent rise from the $9.95 billion in the fourth quarter last year.

It said the recently completed acquisitions of BrightPoint and Aptec Holdings had helped contribute approximately $1 billion and $75 million, respectively, to the quarter’s revenues.

Worldwide gross profit also hit an all-time quarterly record of $661.2 million compared with $554.3 million in the same period of 2011.

However, the distie’s operational bottom line wasn’t as positive with the books showing that operating profit dropped by 4.7 percent  to $167.9 million.

The company said that this figure was as a result of it gobbling up BrightPoint and Aptec and the $8.6 million in restructuring and other acquisition-related costs.

However, this hasn’t caused the company concern with it predicting worldwide consolidated revenue growth in the low teens, for 2013, which includes the contribution of BrightPoint.

And analysts are also on the same track. Today the company was upgraded by Needham & Company from a “hold” rating to a “buy” rating.