* First-qtr adjusted profit $0.43/share vs est. $0.48
* First-qtr revenue $10.38 bln vs est. $10.4 bln
* Shares fall 8 pct in extended trading
(Adds details, shares)
April 23 Electronic products distributor Ingram
Micro Inc posted a weaker-than-expected quarterly profit
due to a rise in costs, sending its shares down 8 percent in
The company said it expected revenue to grow in low-to-mid
single digits in the quarter ending June and the year ending
"The company accelerated its strategic investments and
ramped up spending ... first quarter earnings per share growth
was impacted by the combination of these investments and higher
interest and other expenses," Ingram said.
The company's costs rose 10 percent to $542.2 million in the
first quarter ended March 31.
Net income halved to $24.8 million, or 16 cents per share,
in the quarter from $49.8 million, or 32 cents per share, a year
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
Ingram said the benefit of strong sales in Europe and Latin
America was offset by lower handset sales in Indonesia.
The company, whose rivals include Avnet Inc and
Arrow Electronics Inc, said it faced tougher competition
in the United States.
Ingram's shares closed at $30.27 on the New York Stock
Exchange on Wednesday.
(Reporting by Soham Chatterjee in Bangalore; Editing by Kirti