The Channel logo

News

By | Team Register 24th November 2005 14:12

Tech Data beats the Street

Share jump

Restructuring costs for Tech Data's European operations meant a profits fall for the distie giant in Q3.

Net income fell 40 per cent to $23m or 40c a share thanks to $4.8m in restructuring charges and $3.2 million of consulting costs related to the restructuring. Strip out the one-off charges and profit climbs to 53 cents a share, rather better than the consensus analyst forecast of 46c a share for the quarter.

Wall Street reacted favourably with Tech Data shares leaping 14 per cent yesterday, its biggest one day rise since 2001, Reuters reports.

Net sales for the three months were $5.1bn, 6.6 per cent up on same time last year. Tech Data's earnings statement is here. ®

alert Send corrections

Opinion

Windows 10 on Surface 3

Tim Anderson

It's do-or-die for Microsoft's new operating system on 29 July
Wine Taps by N Wong, Flickr, CC 2.0 License

Simon Sharwood

Clouds sell compute by the glass. On-premises kitmakers want to sell wine-as-a-service

Greg Knieriemen

Privacy, security, information sovereignty, what we all want, right?
Microsoft's Joe Belfiore, speaking at Build 2015

Andrew Orlowski

Redmond devotees may as well have demanded manga desktop wallpaper

Features

Android icon desktop toys
Nice devices, now speak 'enterprise' to me
Standard Form 86 reads like a biography of each intelligence worker
Protestor barricade image via Shutterstock
Breaking through the hardware barricades to a new network state
Racecar