US computer wholesaler Tech Data's (Nasdaq: TECD) net sales for the Americas grew 3% year-over-year to US$2.78bn during the fiscal 2012 third quarter, ended October 31, accounting for 42% of the company's worldwide net sales for the quarter, according to financial results released by the company.
Globally, consolidated net income for the quarter reached US$53.5mn, up 6% from US$50.4mn during fiscal 3Q11. Tech Data posted net sales of US$6.59bn during 3Q12, representing 6.9% growth compared with US$6.16bn one year previous.
The strengthening of certain foreign currencies against the US dollar, compared to the same period of the prior year, positively impacted the year-over-year net sales comparison by approximately 3 percentage points, the company said.
"The completion of another US$100mn in share repurchases during the quarter contributed to our twelth consecutive quarter of double-digit earnings per share growth and brought our cumulative share repurchases to US$900mn since 2005," said Robert Dutkowsky, Tech Data Corporation's CEO.
"For the fourth quarter, we are planning, in both regions [the Americas and Europe], for flat to low single-digit sales growth in local currencies," the executive added.
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