Make us your home page
Instagram

Clearwater's Tech Data reports record first-quarter sales

Clearwater tech product distributor Tech Data reported record first-quarter revenue and profit Monday. But weak sales in European countries with faltering economies kept the company from meeting Wall Street expectations.

"The strength of the good guys was not enough to make up for the weakness of the bad guys," said CEO Robert W. Dutkowsky.

The largest company headquartered in the Tampa Bay area, Tech Data reported a profit of $48.7 million, or $1.03 per share, for the period ending April 30, up from $45.6 million, or 88 cents per share, a year earlier. Net sales rose 13 percent to $6.3 billion. Strengthening of some European currencies against the dollar account for 3 percentage points of the increase.

Analysts polled by Thompson Reuters most recently forecast a $1.05 per-share profit and $6.4 billion in revenue.

Sales fell short of company projections in Switzerland, the Czech Republic and southern European nations such as Spain, where year-to-year revenue was down 30 percent, Dutkowsky said. That offset sales gains in Germany, France and Scandinavia, he said.

Overall, sales grew 18 percent in Europe and 6 percent in the Americas.

Dutkowsky called economies in northern Europe, the United States and Canada "fairly robust." But the United States showed pockets of weakness, he said.

Spending on tech products by federal agencies ground to a halt when Republicans in Congress threatened to shut down the government. School districts used money for tech purchases to keep teachers on the payroll as their budgets were slashed by states, Dutkowsky said.

Information from Dow Jones News Wires was used in this report. Contact Steve Huettel at [email protected] or (813) 226-3384.

Clearwater's Tech Data reports record first-quarter sales 05/23/11 [Last modified: Monday, May 23, 2011 9:14pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Carrollwood fitness center employs scientific protocol to help clients

    Business

    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel

    Business

    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal

    News

    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate

    By WAVENEY ANN MOORE

    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]