Ingram Micro (IM) Names Alain Monie as CEO; Sees Better-Than-Expected Q4 EPS
Tweet
Share
E-mailGet Alerts IM Hot Sheet
Price: $38.89 --0%
Financial Fact:
Total operating expenses: 578.32M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 578.32M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Ingram Micro Inc. (NYSE: IM) announced the promotion of Alain Monie to chief executive officer, effective tomorrow. Monie, who will also retain his current title of president, succeeds Gregory M. Spierkel, who will remain at the company until April 15, 2012, to assist in the management transition.
Monie, 61, is currently the company's president and chief operating officer.
The company also said that it expects its non-GAAP earnings for the fourth quarter ended Dec. 31, 2011, to exceed the average of analysts' estimates of 55 cents in earnings per share, as reported by Thomson Reuters. "We finished the year with solid overall operating results, with revenue in-line with our expectations and profitability benefiting from favorable margins on hard disk drives driven by the global supply shortage," Monie said. The quarter's results are scheduled to be released on Feb. 9, 2012, and are subject to closing and audit procedures.
Monie, 61, is currently the company's president and chief operating officer.
The company also said that it expects its non-GAAP earnings for the fourth quarter ended Dec. 31, 2011, to exceed the average of analysts' estimates of 55 cents in earnings per share, as reported by Thomson Reuters. "We finished the year with solid overall operating results, with revenue in-line with our expectations and profitability benefiting from favorable margins on hard disk drives driven by the global supply shortage," Monie said. The quarter's results are scheduled to be released on Feb. 9, 2012, and are subject to closing and audit procedures.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Bernstein remains bullish on SpaceX but sees challenges in telecom ambitions
- Arena Group to rename as Paradium.AI, ticker changing to PAAI
Create E-mail Alert Related Categories
Guidance, Management ChangesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
