Make us your home page
Instagram

Tech Data's earnings beat estimates

The Tampa Bay area's largest company by revenue, Tech Data Corp., beat analysts' estimates in reporting first-quarter profits this morning.

Net income for the Clearwater IT distributor soared 132 percent to $23-million, or 43 cents a share, from $9.9-million, or 18 cents a share, a year ago. Revenues climbed 12 percent to $6.07-billion from $5.4-billion last year. Analysts were expecting a profit of 42 cents per share on sales of $5.74-billion.

The company said that its net income calculation includes $4-million in consulting and integration costs related to a recent acquisition. The results also include an $8.8-million loss related to the company's closure of its United Arab Emirates operations.

"Our ability to deliver these results is confirmation of our focus on execution," CEO Bob Dutkowsky said in a release. "While we are cognizant of the market uncertainty, our value-proposition is extremely strong, and our team remains focused on delivering exceptional service to our customers and vendor partners as we leverage our infrastructure for long-term success in the IT ecosystem."

Tech Data is predicting sales of $6-billion to $6.2-billion for the quarter ending July 31, above analysts' expectations of $5.66-billion.

Tech Data's earnings beat estimates 05/22/08 [Last modified: Thursday, May 22, 2008 10:33am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Equifax CEO Richard Smith steps down amid hacking scandal

    Personal Finance

    The chief executive of Equifax, the troubled credit reporting agency that suffered a massive data breach that affected as many as 143 million people, will retire, effective Tuesday, according to a statement by the company.

    Richard Smith, chief executive of Equifax, the troubled credit reporting agency that suffered a massive data breach that affected as many as 143 million people, will reportedly retire effective Tuesday.
[File photo: Joey Ivansco/Atlanta Journal-Constitution via AP]
  2. Bass Pro acquires Cabela's for $4 billion

    Retail

    Bass Pro Shops has acquired competitor Cabela's for a reported $4 billion. Bass Pro indicated it is seeking to appeal to all "outdoor enthusiasts" with the move, roping in hunting customers from Cabela's.

    Bass Pro Shops acquired Cabela's for $4 billion, Bass Pro announced Tuesday. | [JAMES BORCHUCK | Times]
  3. Tampa International named among least expensive airports

    News

    TAMPA — Florida airports apparently have a knack for getting it done cheaply.

    According to RewardExpert, Tampa International Airport is the fifth least expensive domestic airport. 
[CHARLIE KAIJO   |   Times
 file photo]

  4. Tampa-based vXchnge secures $200M loan to expand operations

    Corporate

    TAMPA — Tampa-based vXchnge, which operates data centers in 14 metro areas, has secured a loan for roughly $200 million for "major expansions and enhancements."

    Tampa-based vXchnge, a data center provider, secured a $200 million loan. Pictured is CEO Keith Olsen. | [Courtesy of vXchnge]
  5. Allegiant flight makes emergency landing in California after smoke fills cabin

    Airlines

    FRESNO, Calif. — Smoke filled the cabin of an Allegiant Air jet after it landed at a California airport on Monday, forcing coughing passengers to cover their faces with shirts and firefighters to board the plane, authorities said.

    This frame from mobile phone video shows smoke inside an Allegiant Air jet after it landed at Fresno Yosemite International Airport in California's Central Valley, Monday, Sept. 25, 2017. Smoke filled the cabin of an Allegiant Air jet after it landed at the airport on Monday, forcing coughing passengers to cover their faces with shirts and firefighters to board the plane, authorities said. Allegiant said no passengers or any of the six crew members were injured. [Estevan Moreno via AP]