Make us your home page

Clearwater's Tech Data 3Q profit more than doubles

Clearwater company Tech Data Corp. on Monday said its third-quarter net income more than doubled as lower interest expenses and a smaller foreign-exchange loss more than offset a decline in revenue.

The distributor of technology products, ranging from software to printers, earned $43.1 million, or 84 cents per share, compared to $16.8 million, or 33 cents, in the year-ago period.

Net sales fell 8 percent to $5.64 billion from $6.14 billion. Analysts were expecting earnings of 71 cents and revenue of $5.3 billion, according to Thomson Reuters. Analysts typically exclude one-time items.

Tech Data was able to boost earnings in the third quarter partly because net interest expenses fell to $5.8 million from $9.2 million. It also posted a $1 million loss related to foreign currency translation compared with a loss of $23.5 million for last year's quarter.

The net sales comparison in the quarter got a 2 percent boost from foreign exchange.

In North and Latin America, sales fell 10.9 percent to $2.46 billion while European sales were down 5.7 percent to $3.2 billion. Excluding the effects of foreign exchange, sales were down 9 percent in Europe.

Clearwater's Tech Data 3Q profit more than doubles 11/23/09 [Last modified: Monday, November 23, 2009 5:15pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Marina at Hudson Beach poised to become 24-unit condominium-hotel


    HUDSON — One of the mainstay businesses at Hudson Beach is poised for redevelopment into a 24-unit condominium-hotel.

  2. Have your say Tampa Bay on the region's future transit options

    Mass Transit

    TAMPA — It's time, yet again, for Tampa Bay residents to tell officials what kind of transit options they want for their region.

    The Cross-Bay Ferry docks at the Tampa Convention Center on its maiden voyage on Nov. 1, 2016. A regional premium transit study will determine whether a ferry, or other options such as express buses or light rail, would be a good addition to Tampa Bay. [SCOTT KEELER  |  Times]
  3. SOCom seeks civilian drone pilots to develop new technology through ThunderDrone


    TAMPA — For the last three years, Nicole Abbett has been using drones as part of her photography business, with clients like the city of Tampa and construction companies.

    Josh Newby, 31, Palm Harbor, of Tampa Drones fly's a drone in England Brothers park, Pinellas Park, 8/25/16. As drone popularity increases as a hobby and business, local governments are navigating a legal grey area- where, when, and how should drone flights be allowed?
  4. New apartment complex delivers unique floor plans


    RIVERVIEW — A new luxury apartment community has opened in the Progress Village area touting itself as a distinct living option just 10 miles from downtown Tampa.

    Alta at Magnolia Park dubs its new apartment community, that opened earlier this year in Riverview, a modern and distinct option for living just 10 miles from downtown Tampa.
  5. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming


    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]