BUSINESS BRIEFING
Ingram Micro Inc. of Santa Ana, which provides technology products and supply chain management services, said its second-quarter net income declined 57% to $25.3 million as sales dropped 25%.
The earnings amounted to 15 cents a share, compared with a profit of $58.9 million, or 35 cents, a year earlier. Revenue fell to $6.58 billion.
Analysts surveyed by Thomson Reuters, who generally exclude one-time items, were expecting second-quarter profit of 20 cents a share on revenue of $6.67 billion.
Ingram shares gained 40 cents to $18.54.
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