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. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel

    Business

    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.

  2. Tampa International Airport morphing into a mini-city unto itself

    Airlines

    TAMPA — By the end of the 2026, Joe Lopano wants Tampa International Airport to function as its own little city.

    Artist rendering of phase two of the $1 billion construction expansion of Tampa International Airport. The airport is transforming 17 acres of airport property that will include at least one hotel, retail and office space and a gas station, among other things.
[Courtesy of Tampa International Airport]
  3. Lost Highway: As FHP struggles to recruit, speeding tickets plummet

    State Roundup

    TALLAHASSEE — The number of speeding tickets written by Florida state troopers has plunged three straight years as the agency grapples with a personnel shortage and high turnover.

    State data shows FHP troopers are not writing violations for speeding or other infractions like they did back in 2011, even though there's 1 million more licensed drivers in Florida.
  4. Kidpreneurs — and adults — capitalize on gooey, squishy Slime craze

    Retail

    Aletheia Venator and Berlyn Perdomo demonstrate the stretchiness of their slime. - Berlyn Perdomo and her friend, Aletheia Venator, both 13, make and sell slime which can be seen on their instagram site @the.real.slimeshadyy [JIM DAMASKE   |   Times]
  5. The last farmer of Florida's prized Zellwood corn is thinking of packing it in

    Consumer

    MOUNT DORA — Hank Scott steps out of his pickup between the long rows and snaps off an ear that grows about bellybutton-high on the forehead-high stalks.

    Hank Scott, co-owner of Long and Scott Farms, shucks an ear of corn on the farm in Mount Dora, Fla., on Wednesday, May 10, 2017. The farm specializes in Scott's Zellwood Triple-Sweet Gourmet Corn. LOREN ELLIOTT   |   Times