Ingram Micro posts weaker-than-expected results, shares fall
April 23 (Reuters) - Electronic products distributor Ingram Micro Inc posted weaker-than-expected quarterly results due to a rise in costs and interest expenses, sending its shares down 8 percent in extended trading.
The company's net income halved to $24.8 million, or 16 cents per share, in the first quarter ended March 31 from $49.8 million, or 32 cents per share, a year earlier.
Excluding items, Ingram earned 43 cents per share.
Revenue rose 1 percent to $10.38 billion.
Analysts on average had expected a profit of 48 cents per share on revenue of $10.40 billion, according to Thomson Reuters I/B/E/S. (Reporting by Soham Chatterjee in Bangalore; Editing by Kirti Pandey)