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Short Take: Micro Warehouse CEO resigns

PC direct marketer Micro Warehouse announced the resignation of its president and CEO, Linwood A. "Chip" Lacy, Jr. The company's founder and chairman, Peter Godfrey, will assume Lacy's positions immediately. Micro Warehouse also reported its financial results for the third quarter ended September 30: Sales were $522.1 million. Including an after tax charge of $12.7 million, or 37 cents per share, the company lost $7.1 million, or 21 cents per share. Excluding the charge, net income for the quarter was $5.6 million, or 16 cents per share.

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PC direct marketer Micro Warehouse announced the resignation of its president and CEO, Linwood A. "Chip" Lacy, Jr. The company's founder and chairman, Peter Godfrey, will assume Lacy's positions immediately. Micro Warehouse also reported its financial results for the third quarter ended September 30: Sales were $522.1 million. Including an after tax charge of $12.7 million, or 37 cents per share, the company lost $7.1 million, or 21 cents per share. Excluding the charge, net income for the quarter was $5.6 million, or 16 cents per share.