Tech Data posts fiscal Q4 net sales of US$2.8bn in Americas

Friday, March 4, 2011

US computer wholesaler Tech Data's (Nasdaq: TECD) net sales for the Americas grew 10.8% year-over-year to US$2.78bn during the fiscal fourth quarter, ended January 31, accounting for 39% 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$81.2m, up from US$71.5mn during fiscal 4Q10. Tech Data posted net sales of US$7.12bn during 4Q11, representing 13.3% growth compared with US$6.28bn in 4Q10.

For the full fiscal year, Tech Data's net sales in the Americas grew 10.1% to US$10.5bn, from US$9.6bn in the previous year, representing 43% of the company's worldwide net sales.

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Tech Data's consolidated global net income for fiscal 2011 was US$219mn, up from US$181mn the previous year. Yearly net sales were US$24.4bn, up 10.3% compared with US$22.1bn a year ago.

The company has also authorized a share repurchase program for up to US$100mn of its common stock.

Looking forward, Tech Data expects the seasonal sequential decline during 1Q12 to be higher due to strong consumer sales in 4Q11. However, the company still expects to see year-over-year growth during the quarter in the Americas and Europe. Tech Data also expects double-digit growth in operating income and net income during the 2012 fiscal year.

Use this link to view the full results.