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Ingram Micro suffers sales drop
UK led the European slump
Ingram Micro has said its sales have slowed down throughout the world, and as a result it has revised what it expects its Q2 revenues to be.
After the market closed yesterday it said sales are expected to range from $5.8 billion to $6.0 billion for the three months ending 30 June.
Cnet reports that the figures represent a year on year decline of 18 per cent to 20 per cent. Ingram had expected Q2 sales to just fall eight per cent to 14 per cent.
Ingram held a conference call after posting its financial statement yesterday. Executives said Ingram would break even at best, but it is possible the company could lose $10 million.
Ingram President Michael Grainger said sales around the world were weaker than expected in May and early June. He added that the European downturn started in the UK, crossed over to Scandinavia, and is now afflicting Germany.
Ingram pink slipped 1,000 workers earlier this month. ®