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Insight Enterprises sees "disappointing" Q1 earns

Wed Apr 23, 2008 10:17pm EDT

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NEW YORK, April 23 (Reuters) - Insight Enterprises Inc. (NSIT.O) on Wednesday said it expects first quarter earnings to be "well below" analyst forecasts and management expectations.

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Insight, which provides information technology services, said diluted earnings per share are expected to be between 22 cents and 24 cents a share, before severance and restructuring expenses.

It said net sales for the quarter are expected to be down 1 percent from the quarter a year ago to about $1.1 billion.

"We are very disappointed with our financial results in the first quarter," said CEO Rich Fennessy in a statement.

It said it now expects full year diluted earning per share to be between $1.50 and $1.60, excluding restructuring and severance expenses.

The company is slated to release first quarter results on May 8. (Reporting by Dane Hamilton; Editing by Michael Urquhart)

(Reuters messaging: dane.hamilton.reuters.com@reuters.net. 646 223 6161)

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