INGRAM MICRO NET INCOME INCREASED 49 PERCENT FOR SECOND QUARTER 1997
Company reports record sales exceeding $3.7 billion for the quarter

SANTA ANA, Calif., July 31, 1997
Ingram Micro Inc. (NYSE: IM) today announced its financial results for the second quarter ended June 28, 1997.

Net income for the quarter was $40 million, exceeding net income in the previous year's quarter by 49 percent. Earnings per share increased 23 percent, growing from $0.22 per share to $0.27 per share. The earnings per share comparison is based on 20 percent more shares outstanding in the second quarter of 1997 than the second quarter of 1996, largely as a result of the company's initial public offering in November 1996.

In both the 1997 and 1996 second quarters, Ingram Micro's results include a noncash compensation charge related to the vested portion of previously granted stock options converted to Ingram Micro stock options. These charges were $1.4 million and $0.6 million, net of tax, in the second quarter of 1997 and 1996, respectively. Excluding these charges, net income for the second quarter of 1997 grew 51 percent to $41.4 million and earnings per share grew 22 percent to $0.28.

The company posted record net sales in the second quarter of 1997 of $3.72 billion, growing 33 percent over the $2.79 billion achieved in the same quarter last year.

For the first six months of 1997, net income was $80.3 million, exceeding net income for the same period in 1996 by 59 percent. Earnings per share increased 31 percent, growing from $0.42 per share in the first half of 1996 to $0.55 per share in the first half of 1997.

For the first six months of 1997 and 1996, the total noncash compensation charges related to stock options were $2.9 million and $4.8 million, net of tax, respectively. Excluding these charges, net income for the first half of 1997 grew 50 percent to $83.2 million and earnings per share grew 24 percent to $0.57. The company's net sales in the first half of 1997 grew 33 percent to $7.37 billion.

Ingram Micro Inc., headquartered in Santa Ana, Calif., is the world's largest distributor of technology products and services, with 1996 sales of $12 billion. The company operates in 19 countries and distributes more than 36,000 products to more than 100,000 resellers in 120 countries.

For detailed information about Ingram Micro's second-quarter earnings, see the Consolidated Balance Sheet, Consolidated Statement of Income and Consolidated Statement of Cash Flows. You'll need Adobe Acrobat Reader to view these documents.

Contact:

Kirsten Frosh
Ingram Micro, Inc.
Media Relations
(714) 566-1000, ext. 22727

Kim Strohm
Ingram Micro, Inc.
Investor Relations
(714) 566-1000, ext. 24400