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