Brigida Soriano - Fotolia
What should be one of the last sets of quarterly results from Ingram Micro before it is hoovered up by Chinese firm HNA Group might be a market update that the distributor is keen to forget.
For a number of reasons revenue year-on-year for Q4 dropped by 19% to $11.3bn and left the channel giant's CEO Alain Monie having to find an explanation for investors.
Then firm had the calendar working against it with $900m lost because Q4 back in 2014 included an extra week. There were also issues with making some vendor contract changes across Europe that also caused a $300, hit to sales.
Like most US headquartered businesses the negative currency headwinds blowing across the Atlantic also took a toll and helped explain why the gloss was taken off the Q4 revenue figures.
Operating income was down only slightly at $239m year-on-year, which was highlighted as a good result given the currency issues.
For Monie the results gave him a chance to talk about the future and remind investors of its recent announcement to become part of the HNA Group.
"We are excited about our pending transaction to join HNA Group, as we will have the opportunity to even better serve our vendor and customer partners and help them achieve their business objectives," he said.
"Upon the closing of the transaction announced last week, we expect to have the ability to accelerate our investments, both organically and through M&A, to enhance and add to our capabilities in high value IT solutions, mobility lifecycle services, commerce and fulfillment solutions and cloud, while also continuing to extend our geographic reach," he added.
That was pretty much all he had to say as the distributor opted not to hold a resuolts conference call of provide guidance for 2016 Q1 or the year ahead because of the forthcoming HNA deal.
The by China's Tianjin Tianhai to splash out $6bn to add Ingram Micro to become part of the aviation and shipping conglomerate HNA Group was announced last week.
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