LARGO — Tech Data’s sales dipped 2 percent to $9.1 billion during the third quarter while profits grew 1 percent, the company said Tuesday.
Europe, which accounted for 51 percent of the technology distributor’s net sales, saw a 6 percent decline during the three months that ended Oct. 31, compared with the same quarter in 2018. Sales in North and South America, home to 46 percent of the company’s sales, rose 2 percent, and Asia-Pacific sales were up 4 percent. Sales were flat once currency fluctuations were factored out, the company said.
For the first nine months of 2019, Tech Data sales total $26.6 billion, down 1 percent compared with the same period in 2018. Profits are up 2 percent year over year so far.
The company said earnings per share for the quarter were $3.02. Tech Data did not hold a conference call to discuss the numbers Tuesday because of its pending $5.4 billion acquisition by New York private equity firm Apollo Global Management.
Contact Richard Danielson at firstname.lastname@example.org or (813) 226-3403. Follow @Danielson_Times