Ingram Micro Earnings 'Impaired'
No, they didn't try to drive after four vodka martinis (which nobody should ever do -- seriously), but Ingram's fourth quarter earnings ended in a loss due in part to "goodwill impairment." (We didn't know what that was, either, but for the truly intrepid there's an explanation
here.)
Sales were weak, which didn't help, either.
The news comes as Ingram is warning about a slow Q1 and preparing to lay off 300 workers, or 8 percent of its U.S. workforce. Bad times ahead, in other words, but then that's not unusual these days.
Posted by Lee Pender on February 19, 2009