Ingram Micro Net Sales Increase 31%, Exceeding $6.7

Billion for First Quarter 1999 / Company Delivers Net Income of$42 Million for the Quarter SANTA ANA, Calif. (PROTEXT) - Ingram Micro Inc. (NYSE: IM)today announced its financial results for the first quarter endedApril 3, 1999. The company posted record net sales in the first quarter of1999 of $6.73 billion, growing 31 percent over the prior period's$5.15 billion. Net income for the period was $42.3 million, or$0.29 per share, declining 25 percent compared to the 1998 firstquarter. These results include $6.2 million in costs incurred duringthe period for the company's reorganization announced on March11, 1999 and an extraordinary pre-tax gain of $6.2 million on therepurchase of debentures. Net income, excluding these one-timecosts and gains, was $42.4 million, or $0.29 per share. About Ingram Micro Inc. Ingram Micro Inc. (NYSE: IM), headquartered in Santa Ana,Calif., is the world's largest wholesale distributor oftechnology products and services, and is a leading provider ofassembly and integration services with sales of $23.6 billion forthe past four reported quarters. The company and its subsidiariesoperate in 31 countries and distribute more than 200,000 productsto more than 140,000 resellers in 130 countries. Ingram Micro canbe found at ingrammicro.com. Ingram Micro is a trademark used under license by Ingram MicroInc. All other logos, brand names and product names aretrademarks of their respective companies.

INGRAM MICRO INC.

CONSOLIDATED BALANCE SHEET

(Dollars in 000s, except per share data)

(Unaudited)

April 3, January 2,

1999

1999

ASSETS

Current assets:

Cash

$100,612

$96,682

Trade accounts receivable

2,620,447 2,562,050

Inventories

2,873,321 3,094,227

Other current assets

295,822

278,591

Total current assets

5,890,202 6,031,550

Property and equipment, net

264,728

254,718

Goodwill, net

435,377

232,112

Other

216,642

215,024

Total assets

$6,806,949 $6,733,404

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$3,539,480 $3,306,045

Accrued expenses

269,661

254,627

Current maturities of

long-term debt

58,974

38,978

Total current liabilities

3,868,115 3,599,650

Convertible debentures

422,966

473,475

Other long-term debt

943,809 1,208,003

Other

58,526

53,019

Total liabilities

5,293,416 5,334,147

Stockholders' equity

1,513,533 1,399,257

Total liabilities and

stockholders' equity

$6,806,949 $6,733,404

INGRAM MICRO INC.

CONSOLIDATED STATEMENT OF INCOME

(Dollars in 000s, except per share data)

(Unaudited)

Thirteen Weeks Ended

April 3, April 4,

1999

1998

Net sales

$6,725,275$5,150,088

Cost of sales

6,366,021 4,820,178

Gross profit

359,254 329,910

Selling, general and

administration expenses

267,509 213,786

Income from operations

before reorganization costs

91,745 116,124

Reorganization costs

6,234

--

Income from operations

85,511 116,124

Interest and other expense

24,364

22,114

Income before income taxes

61,147

94,010

Provision for income taxes

22,671

37,474

Income before extraordinary items

38,476

56,536

Extraordinary gain on repurchase

of debentures ($6,183, net of

$2,405 in income taxes)

3,778

--

Net income

$42,254 $56,536

Diluted earnings per share

$0.29

$0.38

Diluted weighted average

shares outstanding

148,185,470 149,061,829ots Original Text Service: Ingram Micro Inc. Internet:http://www.newsaktuell.de Contact: Kimmerly W. Strohm, InvestorRelations, 714-382-4400, or Kathleen Janson, Media Relations,714-382-2046, both of Ingram Micro Inc. Web site:http://www.ingrammicro.com

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