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Intcomex, Inc.
Business Summary
Privately-held Intcomex Inc. is a distribution company and the largest value-added distributor of IT products serving Latin America and the Caribbean. Intcomex offers information technology products such as computer components, printers, power protection or backup devices, scanners, mouses, storage devices, external disk drives, computer systems, memory chips, internal hard drives, internal optical drives, cases, software, digital consumer electronics and networking products. As of January 2010, Intcomex serves more than 40,000 local customers in over 45 countries, operating both as an in-country distributor and a wholesale aggregator. Founded in 1988, Intcomex is headquartered in Miami, Florida.
Overview & Corporate Organization
Basic Information
| Year Founded: | 1988 |
| Fiscal Year End: | 12/31 |
| 1YR Revenue Growth Rate: | View % |
| 3YR Revenue Growth Rate (CAGR): | View % |
| 1YR Employee Growth Rate: | View % |
| 3YR Employee Growth Rate (CAGR): | View % |
| City: | Miami |
| State/Province: | Florida |
| Country: | United States |
| Phone: | View |
| Fax: | View |
| Website: | www.intcomex.com |
Corporate Organization
| Founders: | Anthony Shalom Michael Shalom |
Industry Information
PrivCo Industries (Sector > Industry > Sub-Industry)
The PrivCo Industry Classification System™ (PICS) is our proprietary, modernized industry classification system, geared especially toward privately-held companies and including newer emerging sub-industries that are not reflected in other outdated industry classification systems, such as SIC and NAICS.
Competitors & Comparables
Competitors
| Bell Microproducts Inc. |
| Ingram Micro Inc. |
| Tech Data Corporation |
Charts, Financials, and Statistics (Table Format)
Copy & Paste Financials Into Spreadsheet or
| Income Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 |
| Revenues | View | View | View | View | View | View | $716,440,000 |
| Cost of Goods and Services Sold | View | View | View | View | View | View | $642,737,000 |
| Gross Profit | View | View | View | View | View | View | $73,703,000 |
| Selling, General and Administrative Expenses | View | View | View | View | View | View | $41,555,000 |
| Depreciation and Amortization | View | View | View | View | View | View | $1,788,000 |
| Impairment of Goodwill | View | View | View | ||||
| Total Operating Expenses excluding costs | View | View | View | View | View | View | $43,343,000 |
| Operating Income/(Loss) | View | View | View | View | View | View | $30,360,000 |
| Interest Expense | View | View | View | View | View | View | $16,805,000 |
| Interest Income | View | View | View | View | View | View | $456,000 |
| Foreign Currency Exchange Gains/(Losses) | View | View | View | View | View | $1,407,000 | |
| Non-operating Income - Other | View | View | View | ||||
| Non-operating Income/(Expense) - Other | View | View | View | ($600,000) | |||
| Non-operating Income/(Expense) | View | View | View | View | View | View | ($15,542,000) |
| Income/(Loss) from Continuing Operations Before Income Taxes | View | View | View | View | View | View | $14,818,000 |
| Provision for Income Taxes | View | View | View | View | View | View | $2,755,000 |
| Net Income (Loss) | View | View | View | View | View | View | $12,063,000 |
| Comprehensive Foreign Currency Exchange Gains/(Losses) | View |
| Balance Sheet | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 |
| Cash and Cash Equivalents | View | View | View | View | View | View | $12,964,000 |
| Current Restricted Cash | View | View | View | ||||
| Current Restricted Investments | $31,000 | ||||||
| Net Accounts Receivable Trade | View | View | View | View | View | View | $71,589,000 |
| Current Notes Receivable, Net | View | View | View | View | View | View | $18,340,000 |
| Current Amounts Due From Affiliates | View | View | View | ||||
| Current Amounts Due From Related Parties | View | View | View | $890,000 | |||
| Net Inventories | View | View | View | View | View | View | $77,038,000 |
| Current Deferred Income Taxes | View | View | View | View | View | View | $1,495,000 |
| Prepaid Expenses | View | View | View | View | View | View | $10,076,000 |
| Current Assets | View | View | View | View | View | View | $192,423,000 |
| Net Property, Plant and Equipment | View | View | View | View | View | View | $8,237,000 |
| Noncurrent Notes Receivable | View | $213,000 | |||||
| Goodwill | View | View | View | View | View | View | $34,257,000 |
| Net Finite-Lived | $4,866,000 | ||||||
| Intangible Assets (Excluding Goodwill) | View | View | View | View | View | View | |
| Noncurrent Deferred Tax Assets | View | View | View | View | View | View | $1,831,000 |
| Noncurrent Other Assets | View | View | View | View | View | View | $6,484,000 |
| Assets | View | View | View | View | View | View | $248,311,000 |
| Accounts Payable | View | View | View | View | View | View | $80,686,000 |
| Accrued Expenses | View | View | View | View | View | View | $7,475,000 |
| Current Amounts Due To Affiliates | View | ||||||
| Current Amounts Due To Related Parties | View | View | View | View | View | $53,000 | |
| Current Deferred Income Tax Liabilities | View | View | View | View | View | View | $404,000 |
| Income Taxes Payable | View | View | View | View | View | View | $2,947,000 |
| Current Line of Credit | View | View | View | View | View | View | $5,413,000 |
| Current Portion of Long-Term Debt | View | View | View | View | View | View | $282,000 |
| Current Other Liabilities | View | $2,317,000 | |||||
| Current Liabilities | View | View | View | View | View | View | $99,577,000 |
| Long-Term Debt | View | View | View | View | View | View | $119,346,000 |
| Commitments and Contingencies | View | View | View | $0 | |||
| Deferred Tax Liability | View | View | View | View | View | View | $3,535,000 |
| Noncurrent Other Liabilities | View | View | View | View | View | View | $286,000 |
| Liabilities | View | View | View | View | View | View | $222,744,000 |
| Common Stock - Value (Excluding Additional Paid in Capital) | View | View | View | View | View | View | $1,000 |
| Common Class B - Value (Excluding Additional Paid in Capital) | View | View | View | View | View | View | |
| Additional Paid in Capital | View | View | View | View | View | View | $17,597,000 |
| Retained Earnings | View | View | View | View | View | View | $7,654,000 |
| Treasury Stock - Value | View | View | |||||
| Other Accumulated Comprehensive Income, Net of Tax Effect | View | View | View | View | View | View | $315,000 |
| Stockholders' Equity | View | View | View | View | View | View | $25,567,000 |
| Liabilities and Stockholders' Equity | View | View | View | View | View | View | $248,311,000 |
| Cash Flow Statement | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 |
| Operating Activities Beginning Net Income | View | View | View | View | View | View | $12,063,000 |
| Depreciation (Non-Production) | View | View | View | View | View | View | $1,214,000 |
| Adjustment Amortization - Intangibles (Non-Productive) | $574,000 | ||||||
| Amortization | View | View | View | View | View | View | $3,029,000 |
| Total Adjustments to Provision for Doubtful Accounts | View | View | View | View | View | View | $1,491,000 |
| Asset Impairment Charges | View | View | View | View | View | View | |
| Gain/(Loss) on Sale/Retirement of Property, Plant and Equipment | View | View | View | View | View | ||
| Adjustment for Equity Based Compensation Expense | View | View | View | View | View | View | $0 |
| Adjustment Inventory | View | View | View | View | View | View | $1,332,000 |
| Adjustments to Gains/(Losses) on Sale of Investments | View | ($18,000) | |||||
| Deferred Income Taxes | View | View | View | View | View | View | ($950,000) |
| Adjustment Extraordinary Items | View | View | View | View | View | ||
| Change Accounts Receivable | View | View | View | View | View | View | $12,706,000 |
| Change Other Receivable | View | View | View | View | View | View | $4,028,000 |
| Current Increase/(Decrease) in Amounts Due From Related Parties | View | View | View | View | View | View | $641,000 |
| Increase/(Decrease) in Inventories | View | View | View | View | View | View | $16,213,000 |
| Change Prepaid Expenses Other Current Assets | View | View | View | View | View | ||
| Change Prepaid Expenses Other Assets | View | $8,975,000 | |||||
| Increase/(Decrease) in Accounts Payable | View | View | View | View | View | View | $6,709,000 |
| Increase/(Decrease) in Accrued Expenses | View | View | View | View | View | View | $5,108,000 |
| Current Increase/(Decrease) in Amounts Due To Other Related Parties | View | ||||||
| Current Increase/(Decrease) in Amounts Due To Related Parties | View | View | View | View | View | $270,000 | |
| Increase/(Decrease) in Income Taxes Payable | View | View | View | View | View | View | $1,007,000 |
| Net Cash Flows Provided By/(Used In) Operating Activities | View | View | View | View | View | View | ($10,734,000) |
| Purchase of Property, Plant and Equipment | View | View | View | View | View | View | $2,874,000 |
| Purchase Minority Interest | $203,000 | ||||||
| Proceeds from Sales and Principal Collections on Notes Receivable | View | $356,000 | |||||
| Increase Decrease Notes Receivable | View | View | View | View | View | ||
| Acquisition of Businesses, Net of Cash Acquired | View | View | View | $11,866,000 | |||
| Proceeds from Sale of Other Assets | View | View | View | View | View | View | $37,000 |
| Net Cash Flows Provided By/(Used In) Investing Activities | View | View | View | View | View | View | ($14,550,000) |
| Net Change Line Credit | View | View | View | View | View | View | ($4,358,000) |
| Proceeds from Related Party Debt | View | View | |||||
| Other Proceeds from Issuance of Long Term Debt | View | View | |||||
| Net Proceeds from Issuance of Long-Term Debt and Capital Securities | View | View | View | View | $120,535,000 | ||
| Repayments of Long-Term Debt and Capital Securities | View | View | View | View | View | View | $65,645,000 |
| Net Change Related Party Debt | ($20,000,000) | ||||||
| Proceeds from Issuance of Common Stock | View | View | View | View | View | ||
| Repurchase of Common Stock | View | View | View | ||||
| Net Cash Flows Provided By/(Used In) Financing Activities | View | View | View | View | View | View | $30,532,000 |
| Effect of Exchange Rate on Cash and Cash Equivalents | View | View | View | View | View | View | $315,000 |
| Increase/(Decrease) in Cash and Cash Equivalents | View | View | View | View | View | View | $5,563,000 |
| Cash and cash equivalents at the beginning of the year | View | View | View | View | View | View | $7,432,000 |
| Total Cash and cash equivalents at the end of the year | View | View | View | View | View | View | $12,995,000 |
| Income Taxes Paid | View | View | View | View | View | View | $6,471,000 |
| Cash Interest Expense | View | View | View | View | View | View | $7,892,000 |
| Supplemental Property Plant Equipment Acquired | View | View | View | View | View | View | $199,000 |
| Fair Value of Assets Acquired | View | View | View | ||||
| Stock Issued | View | View | View | View | View | $3,000,000 | |
| Liabilities Assumed | View | View | View | ||||
| Supplemental Other Net | View | View | View | $2,750,000 |
| Location Statistics | 2011 |
| Total Locations | View |
| Financial Notes: | |
| * | Intcomex, Inc. fiscal year end: 12/31 |
Charts, Financials, and Statistics (Graphs)
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Intcomex, Inc. Revenues ($ MM): |
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Intcomex, Inc. Repayments of Long-Term Debt and Capital Securities ($ MM): |
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Intcomex, Inc. Net Cash Flows Provided By/(Used In) Financing Activities ($ MM): |
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Mergers & Acquisitions
| Date | Status | Target | Buyer | Deal Type | Price | |
| Details | May. 1998 | Completed | Intcomex, Inc. | CHS Electronics Inc. | Acquisition | Unspecified |
| Details | Aug. 2004 | Completed | Intcomex, Inc. | Citigroup Venture Capital International | Acquisition Minority Stake Purchase | $41,700,000 |
| Details | Jun. 2005 | Completed | Centel, SA de CV1 | Intcomex, Inc. | Acquisition | $19,800,000 |
| Details | Apr. 2011 | Completed | View | View | Acquisition Minority Stake Purchase | View |
| 1 | Intcomex acquired all of the outstanding shares of Centel for $14 million in cash, $3 million in non-voting common shares, and $2.8 million in seller notes in this Latin American IT provider. - Details → |
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VC/Funding Activity
| Date | Investor | Round | Investor Type | |
| Apr. 2011 | View | Funding | ||
| Details | Total Round Funding View | |||
| Total of Funding Shown Above View | ||||
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Public / Private History (PPH™)
| Date | Deal Type | Action | Resulting Status | Valuation | Amount Raised | Public Ticker | |
| Details | Jul. 2007 | View | View | View | View | View | View |
Detailed Business Description: Intcomex, Inc.
Founding and Expansion of Intcomex
In 1988, Intcomex Inc. was co-founded by Anthony Shalom and his son Michael Shalom as a small local software retailer in South Florida. Its headquarters were built in Miami, Florida in order to best target Caribbean and Latin American markets.
In the following year, the Company started exporting information technology products from the United States to Latin America. In 1990, Intcomex launched its first affiliate in-country sales and distribution operations, thereby expanding their presence in Panama and Chile in 1994; Peru, Uruguay, and Guatemala in 1997; Costa Rico, Ecuador, El Salvador, and Jamaica in 2000; Argentina in 2003; and Columbia in 2004.
Aborted Acquisition by CHS Electronics
In May 1998 CHS Electronics agreed to buy Intcomex. However, in October 1999,
INTCOMEX regained control of its group of 8 companies in Latin America. Due to the rapid deterioration of CHS Electronics, Inc., both CHS and INTCOMEX jointly agreed to revert control of… Continue Reading →
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