The Best And Worst Channel Stocks of 2013 (So Far)


Tech Data

CEO: Robert Dutkowsky

Dec. 31, 2012: $45.53
June 28, 2013: $47.09
Change: 3.4%

On March 21, Tech Data said it would restate some or all of its quarterly and annual financial statements for fiscal 2011, 2012 and 2013 (ending Jan. 31). The restatements are being made "to correct improprieties primarily related to how the company's U.K. subsidiary reflected vendor accounting." The restatement could reduce operating income by a total of $30 million to $40 million and net income by a total of $25 million to $33 million over the three fiscal years.

During the first six months of 2013, Tech Data developed a new warranty plan for the channel, rolled out a partner enablement program around Brocade networking gear, began distributing VMware's vSphere with Operations Management, and created a service to help Cisco partners navigate that vendor's channel programs.

 



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