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

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap
Steve Bennet, ex-Symantec CEO

Chris Mellor

Enormo security firm needs to get serious about acquisitions

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust