Tech Data Beats 2Q Expectations

Tech Data

The results compare with earnings of $14 million, or 25 cents per share, in the year-ago quarter.

Sales in the quarter were $4 billion, down from $4.14 billion for the same period last year.

Sales in the United States fell 16 percent compared with the year-ago quarter. European revenue increased 9 percent, but revenue for the rest of the world fell 11 percent.

Software sales increased 10 percent, and systems sales rose 2 percent. Peripherals and networking products declined 9 percent and 10 percent, respectively.

Peripherals accounted for 43 percent of sales, systems for 24 percent, software for 18 percent and networking for 15 percent.

Tech Data expects third-quarter revenue of $3.8 billion to $4 billion and net income of $31 million to $34 million, or 53 cents to 59 cents per diluted share.

Thomson Financial/First Call projected earnings of 62 cents for the quarter.