Ingram Micro Inc.
Shares of Ingram Micro Inc., the world's largest distributor of computer products, plunged by nearly 28 percent last week after the company said its third-quarter earnings will be sharply lower than expected, and that its chief executive is stepping down. Reeling from aggressive price cutting in the market for personal computers, Ingram Micro said it expects to earn 10 to 14 cents per share in the third quarter, far below the 41 cents per share expected by Wall Street analysts.
Common stock data
Latest close .... $15.94
52-week range .... $13.31 - $54.63
Dividend .... 0
P/E ratio .... 9.7
Beta .... 0.69
Average daily volume .... 710,210
Annual profit .... $245 million
Annual sales .... $22 billion
Earnings per share
latest 12 months .... $1.54
Estimated EPS for 1999 .... $1.00
Key financial ratios
Profit margin .... 1.85%
Return on equity .... 19.9%
Debt to equity .... 83%
What a key exec says
"We tried to do too many things too quick. There's no question we paid the penalty."
-- Jerre Stead, chief executive officer
SOURCE: Bloomberg News; Zacks Investment Research