UPDATE 2-Ingram Micro aims to increase market share

* Ingram Micro Q2 EPS ex-items 20 cents, matches Street

* Plans to put more emphasis on market share

* Shares unchanged in after hours trading (Adds analyst comments, CEO interview)

By David Lawsky

SAN FRANCISCO, July 30 (Reuters) - Ingram Micro Inc (IM.N) posted lower second quarter earnings, but matched Wall Street estimates after deep cost-cuts offset a sharper-than-expected revenue slide.

Chief Executive Gregory Spierkel said in an interview with Reuters that the company was looking to increase business in Sweden, several other European countries and in Asia.

Analysts said that might have to come at the expense of profitability and margins.

The company, which competes with companies like Tech Data Corp (TECD.O) and Synnex Technology International Corp (2347.TW), said on Thursday it will try to aggressively pursue market share.

Spierkel said there was also room to grow in networking, call centers and in mobility.

"It's a fine balancing act, your profitability against your sales, and obviously they want to keep a certain volume coming through the business so they can justify the infrastructure they have," said Matthew Sheerin of Thomas Wiesel Partners.

Ingram's share price was unchanged at $18.54 in after hours trading.

Ingram Micro said in a statement it now plans "to place a greater emphasis on securing incremental sales while maintaining our focus on operational excellence and profitability".

Richard Kugele, an analyst with Needham & Company, said that meant the company might have to give up some gross margin, as it expands market share mainly by cutting prices.

"We are talking about degrees, yet they clearly intend on going after share," Kugele said. "I'm not saying that is the wrong strategy, but it has an implication."

That implication is that the company will be willing to let its gross margin slide from the 5.87 percent it hit in the second quarter, he said.

The company reported that second quarter net income fell to $25.3 million, or 15 cents per share, from $58.9 million, or 35 cents per share, one year ago.

Excluding certain items, profit was 20 cents a share, matching the average analyst forecast according to Reuters Estimates.

Ingram's revenue fell to $6.58 billion for its fiscal second quarter, compared with $8.81 billion one year ago.

Analysts, on average, had been expecting revenue of $6.67 billion, according to Reuters Estimates. (Reporting by David Lawsky; Editing by Steve Orlofsky and Carol Bishopric)