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Ingram Micro profits down

Ingram Micro has reported an increase in sales for the second quarter but has seen margins and profits tumble. Worldwide sales were $10.83bn, an increase of 7% on the same quarter last year. Gross margins were 6.54%, down from 7.10% last time. Second quarter GAAP operating income and net income were $91m and $45m respectively. This compares to $97m and $55m in 2016. 

The translation of foreign currencies versus last year had a negative impact of 1 percentage point on worldwide sales, it says.

Earlier this week, Ingram Micro UK and Ireland launched HP as a Service, a platform for resellers to provide an end user quotation on HP products and Ingram services with “competitive leasing rates”.