ChannelLife New Zealand logo
Industry insider news for New Zealand's technology resellers
Story image

Ingram Micro bullish on Q3 financials

By Heather Wright
Fri 30 Oct 2015
FYI, this story is more than a year old

Ingram Micro says it grew its global cloud business by more than 100% year on year in Q3, with the Asia Pacific business remaining strong, helping the company to a net income of US$65 million.

The company, which has just released its global Q3 results, says Asia Pacific delivered strong operating leverage with non-GAAP operating income growth of 23% - more than triple the regions 6% revenue growth rate.

On a currency neutral basis, the region’s revenue grew 16%, thanks largely to continued solid growth in Australia, India and China and contributions from recent acquisitions in Turkey and Saudi Arabia.

Alain Monie, Ingram Micro chief executive, says the company ‘had a great quarter, reflecting continued execution on our strategy’.

Worldwide, third quarter sales sat at US$10.5 billion, down 6% in US dollars on the same quarter last year when the company recorded net sales of $11.2 billion. However, the company says on a currency neutral basis, that’s a 2% increase in sales revenue.

“Excluding the negative impact related to the company exiting portions of its North American mobility distribution business, worldwide third quarter sales were up approximately 5% on a currency neutral basis,” Ingram Micro says.

Non-GAAP operating income of $169 million was up 5% in US dollars or 15% on a currency neutral basis, while non-GAAP operating margin of 1.60% grew 17 basis points over last year, the highest level for a third quarter in more than a decade.

“We drove strong operating leverage while continuing to build our capabilities in key strategic areas such as advanced solutions, lifecycle services, commerce and fulfilment solutions and cloud,” Monie says.

“Our teams remained focused on generating strong returns on capital, which resulted in expanded margins, with non-GAAP operating margin reaching the highest level more a third quarter in more than a decade,” he says.

The company closed the quarter on October 03, with US$340 million in operating cash flow for the quarter, and Monie says the company expects to generate more than $1 billion in operating cash flow for the full year, up from the previous forecast of $700 million.

However, net income was down 10% from $72 million to $65 million.

On the cloud front, Ingram Micro says the continued expansion of its cloud marketplace has seen its cloud business grow more than 100% year on year on a constant currency basis. The automated marketplace is now available in 16 countries worldwide, including New Zealand.

The company says its commerce and fulfilment sales grew by double digits on a currency neutral basis.

The company recently announced it is acquiring European order fulfilment, returns logistics and online payment services provider DocData, in an attempt to broaden its commerce and fulfilment solutions footprint in Europe.

And just last week, Ingram Micro announced its intention to acquire Brazil’s Grupo ACAO, which has a portfolio of ‘higher value’ products from vendors including IBM, Oracle, Red Hat, EMC and VMware and also provides integration services, sales support and financial services. That deal is expected to close late in Q4 2015.

Ingram Micro is forecasting its 2015 fourth quarter revenue to be between $12.0 billion and $12.6 billion.

Related stories
Top stories
Story image
InternetNZ
How well do rangatahi understand cyber safety in Aotearoa?
Do rangatahi in Aotearoa understand the importance of being safe online, or has lifelong exposure to the internet resulted in widespread complacency?
Story image
Data Protection
Zero Trust, but verify - finding the OT in ZerO Trust
The move to remote and cloud-based technologies has shifted the goalposts for cybersecurity. It now needs to cover multiple people, devices, platforms, and networks.
Story image
Firewall
Why printing security plays a vital part in keeping Aotearoa safe
While internet printing, mobile printing and other similar technologies have no doubt made things easier to manage, it has also brought a whole new set of problems to the table.
Story image
Cybersecurity
Education sector seeing highest volumes of cyber attacks
When breaking down the numbers to education attacks by region in July 2022, A/NZ was the most heavily attacked.
Story image
Smartphone
Samsung introduces new generation of foldable smartphones
Samsung has unveiled its new range of Galaxy Z smartphones, bringing new developments to the company’s foldable smartphone portfolio.
Story image
Dicker Data
Dicker Data brought on as Acronis partner for A/NZ
The news about the partnership comes in as cyber criminals continue to exploit gaps in traditional solutions and strategies in NZ and across the APAC region.
Story image
Red Hat
Red Hat announces 2022 awards winners for A/NZ region
Red Hat recently acknowledged Australia and New Zealand partners with its annual awards, highlighting partners across various categories.
Story image
Financial results
Jade Software’s plan to get back to surplus in 2022
Jade Software has released its latest financial report, revealing that the company has kept its loss low from $567,000 in FY 2020 to just $153,000 in FY 2021.
Story image
Ingram Micro
Ingram Micro NZ sees $74 million revenue growth in 2021
Ingram Micro New Zealand's latest financial report reveals that its revenue from contracts with customers increased by almost $74 million in 2021.
Story image
Gaming
Attacks on gaming companies more than double over past year
The State of the Internet report shows gaming companies and gamer accounts are at risk, following a surge in web application attacks post pandemic.
Story image
Hybrid Cloud
The essential guide to digital transformation by SolarWinds
Digital transformation is a buzzword thrown around all the time by companies, but what does it actually mean and why is it important? SolarWinds breaks it down.
Story image
Application Performance Monitoring / APM
New Relic integrates offering with Atlassian’s Jira Software
New Relic has integrated errors inbox with Jira Software to allow developers to easily access and set up complete stack error tracking and software performance monitoring from within the tool.
Story image
10 Minute IT Jams
Video: 10 Minute IT Jams - An update from Heidrick & Struggles
Graham Kittle joins us today to discuss how the company is helping organisations bring about change within their business.
Story image
Phishing
Norton research finds NZ threat landscape diversifying on social media
Norton's quarterly report has highlighted the seriousness of the threat landscape in New Zealand.
Story image
Artificial Intelligence
Exclusive: NZ-based DEFEND offers global cyber protection
DEFEND supports customers in 66 countries across the globe with a relentless focus on ensuring that every dollar spent on security provides a meaningful return on investment and reduces cyber risk.
Story image
SaaS
Cloud and data protection big challenges for NZ businesses
"This surge towards a cloud-first approach meant security and safety became afterthoughts - there's no point being the fastest car on the racetrack if you crash.”
Story image
Surveillance
Ministry will no longer accept equipment from Chinese firm Hikvision
The Ministry of Business, Innovation and Employment (MBIE) says it will no longer accept equipment from a major Chinese surveillance camera maker.
Story image
Document Management
TrustRadius gives M-Files two document management awards
TrustRadius has recognised M-Files with both a 2022 Best Feature Set and a 2022 Best Relationship award in document management.
Story image
Tech job moves
Tech job moves - Cohesity, Equinix, IDC, Proofpoint & Xero
We round up all job appointments from July 29 - August 5, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Home security
Hands-on review: Eufy Wire-Free Dual Cam Video Doorbell 2K
We have had our house secured by Eufy products for over seven months now. We love the brand, and it has never let us down.
Story image
Privileged Access Management / PAM
The importance of stopping identity sprawl for cybersecurity
The 2021 Data Breach Investigations Report (DBIR) shows that 61% of all breaches involve malicious actors gaining unauthorised, privileged access to data by using a compromised credential. Unfortunately, it is often too late when the misuse of a credential is detected.
Story image
LG Electronics
LG Electronics’ revenue in NZ grows by 57% in FY 2021
The New Zealand branch of LG Electronics Australia's total revenue shot up by nearly NZD $45 million reaching a total of $123.7 million for FY 2021.
Story image
Neat
Workplace design a crucial factor for better employee experience - report
The key to a successful workplace could be its design, according to research from Ecosystm and Neat.
Story image
Microsoft
Spectralink DECT devices now integrated with Microsoft Teams SIP Gateway
Spectralink DECT devices are now integrated with Microsoft Teams SIP Gateway to help create better results for business-critical frontline workers.
Story image
Sustainability
NZ program recovers and recycles more than 177 tonnes of e-waste
The TechCollect NZ pilot program says its milestone of recovering and recycling more than 177 tonnes of ICT e-waste recognises the efforts of many.
Story image
Home Entertainment
Hands-on review: TCL 65″ C835 Mini LED 4K Google TV
We introduce you today to a TV that brings the height of immersion to your viewing experience: The TCL 65″ C835 Mini LED 4K Google TV.
Story image
Charity
SnapLogic teams up with meetmagic for charity and children
SnapLogic has announced its partnership with meetmagic, an online Australian platform that combines business and philanthropy.
Story image
Web application firewall
Radware recognised in KuppingerCole’s 2022 Leadership Compass report
Radware has been named a Product, Innovation, Market and Overall Leader in the 2022 KuppingerCole Leadership Compass report for Web Application Firewalls.
Story image
IDC
High level of Customer Identity & Access Management adoption
The study from Okta revealed that the pandemic has either accelerated or highlighted the need for digital-first strategies.
Story image
Dark web
Beware the darkverse and its cyber-physical threats
A darkverse of criminality hidden from law enforcement could quickly evolve to fuel a new industry of metaverse-related cybercrime.
Story image
Google Cloud
Google Cloud to open first cloud region in NZ - among others
Google Cloud has announced plans to bring three new cloud regions, one each in New Zealand, Malaysia and Thailand.
Story image
Samsung
New range of Samsung Smart Watches announced with health focus
Samsung has announced new additions to its SmartWatch portfolio, with the Galaxy Watch5 and Galaxy Watch5 Pro to be released in late August.
Story image
Economics
9 in 10 retailers prepared for economic challenges this year
Some 9 in 10 retailers (86%) are prepared for continued inflation, higher interest rates and potentially lower consumer spending, according to new research.
Story image
ExtraHop
Organisations exposing highly sensitive protocols to public internet
More than 60% of organisations expose remote control protocol SSH to the public internet, while 36% of organisations expose the insecure FTP protocol.
Story image
Distribution
Garmin expands NZ footprint with new Auckland distribution centre
The facility at Goodman’s Highbrook Business Park will be fully operational from October 2022 and features 3,586sqm of warehouse space.
Story image
Gigabit
Keysight Technologies and Nokia’s public test of 800GE success
Keysight and Nokia have successfully demonstrated the first public 800GE test, validating the readiness of next-generation optics for service providers and network operators.
Story image
Compliance
Why security needs to shape your journey to the cloud
It's estimated that 80% of workloads could be in the cloud in the next few years. How can you make all that data secure?
Story image
New Zealand
2degrees announces appointments to newly established board
2degrees has announced Liz Coutts as the board chair, while Russell Stanners and Kathy Meads join her as directors.
Story image
Developers
Snyk announces plans to expand partner network in APJ
Recognising that partnerships are critical for growth, Snyk is building an entire partner ecosystem that will drive its expansion across APJ.
Story image
SaaS
Claroty launches new cloud-based industrial cybersecurity platform
The company says Claroty xDome is the industry's first solution to deliver the ease and scalability of SaaS without compromising on visibility, protection, and monitoring controls.
Story image
CyberCX
Nozomi Networks adds nine partners to its MSSP program
OT and IoT security company Nozomi Networks has added nine new members to its MSSP Partner Program, and the list includes CyberCX and Deloitte.