The Channel logo

News

By | Kelly Fiveash 5th March 2008 11:38

Tech Data 'cautiously optimistic' after Q4 boost

Shares jump

IT distributor Tech Data saw shares rise more than three per cent on Wall Street yesterday after it posted strong fourth quarter results and a positive sales outlook.

The firm said it expects revenue in the first quarter, which ends 30 April, to be between $5.65bn and $5.8bn – ring-fencing analyst predictions of $5.71bn.

It reported Q4 adjusted earnings of 96 cents a share and said net sales for the quarter ended 31 January rose to $6.48bn from $6.12bn in the same period a year earlier.

Net income was up 39 per cent to $50.2m, or 92 cents per share, from $36.1m, or 66 cents per share, while total sales grew 5.8 per cent to $6.5bn.

The company also reported its full year results. It said it had moved out of the red posting net income of $108.3m compared with a loss of $97m for the previous year. Sales increased more than nine per cent to $23.4bn.

"As we proceed into fiscal 2009, the economic environment remains an important consideration, but we remain cautiously optimistic," said Tech Data CEO Robert Dutkowsky.

Tech Data stock was up more than three per cent with shares closing at $34.24 on Nasdaq yesterday. ®

alert Send corrections

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany
Inside the Google Lab where surgeons prepare the human/dog experiment
Big Blue exec tells El Reg what to keep an eye on