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INGRAM MICRO INC FILES (8-K) Disclosing Results of Operations and Financial Condition

July 24, 2014

Item 2.02 Results of Operations and Financial Condition. On July 24, 2014, Ingram Micro Inc. (the "Company" or "Ingram Micro") issued a press release reporting financial results for the fiscal second quarter ended June 28, 2014. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information included herein and in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing, nor shall it be deemed to form a part of the Company's public disclosure in the United States or otherwise. GAAP to Non-GAAP Reconciliation The attached press release includes financial results prepared in accordance with generally accepted accounting principles ("GAAP"). In addition to GAAP results, Ingram Micro is reporting non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP earnings per diluted share. These non-GAAP measures exclude the amortization of intangible assets, and charges associated with reorganization, integration and transition costs and other expense reduction programs, including those associated with the company's previously announced organizational effectiveness programs. These non-GAAP financial measures also exclude a benefit related to the receipt of an LCD flat panel class action settlement in certain historical periods. Non-GAAP net income and non-GAAP earnings per diluted share also exclude the impact of foreign exchange gains or losses related to the translation effect on Euro-based inventory purchases in Ingram Micro's pan-European entity.



The non-GAAP measures noted above are primary indicators that Ingram Micro's management uses internally to conduct and measure its business and evaluate the performance of its consolidated operations and operating segments. Ingram Micro's management believes these non-GAAP financial measures are useful because they provide meaningful comparisons to prior periods and an alternate view of the impact of acquired businesses. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting Ingram Micro's business. A material limitation associated with these non-GAAP measures as compared to the GAAP measures is that they may not be comparable to other companies with similar items that present related charges differently. The non-GAAP measures should be considered as a supplement to, and not as a substitute for or superior to, the corresponding charges calculated in accordance with GAAP and may not be comparable to similarly titled measures used by other companies.

Reconciliation of GAAP to non-GAAP financial measures for the periods presented are attached to the press release. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated July 24, 2014 and related financial schedules.



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Source: Edgar Glimpses


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