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Ingram Micro (IM) reported third-quarter EPS of 25 cents, exceeding the Zacks Consensus Estimate of 20 cents.
 
Revenues
 
The company reported third-quarter revenues of $7.38 billion, down 11.0% on a year-over-year basis and up 12% on a sequential basis. The year-over-year decline in revenue can be attributed to the negative economic environment that prevailed throughout the last one year. Foreign currency translation negatively impacted the year-over-year comparison by approximately 3.0%, but had a positive impact on quarterly comparisons.

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Ingram Micro (IM), a largest technology distributor, posted much better-than-expected Q3 results.

For the quarter, revenues were $7.38 billion, down 11% from a year ago due the soft economic environment, but much better than the Street consensus of $6.65 billion. Profits of 25 cents a share beat the Street by five cents.

CEO Gregory Spierkel said in a statement that “an improving demand environment, stronger foreign currencies and our proactive efforts to engage our customers yielded solid results this quarter.”

Electronics distributor Tech Data (TECD) is up fractionally today following an initiation-of-coverage note from Ladenburg Thalmann analyst Nancy Hull, set a “Buy” rating and a $41 price target. Hull says the company has done an admirable job of controlling costs to increase profit despite tough times in the industry.

She also thinks a deal announced in March to distribute Dell (DELL) computers validates the importance of the company’s sales channel.