Tech Data: Financial Outlook Good
Tech Data (TECD) is expecting a year-over-year sales increase for the end of its fourth fiscal quarter, which will end Jan. 31. Having exceeded third quarter expectations as well, the company has a positive outlook even despite the still dreary economy.
The news comes as Tech Data reported $43.1 million in net profit, a jump over the $16.8 million during the same period a year earlier. Of that profit, revenue contributed a big chunk, even though sales were down in the Americas and Europe. Together, those regions showed $5.64 billion in third-quarter revenue.
Tech Data’s shares have remained near their 52-week high of $44.79 in the past few weeks. On Tuesday, they hovered at $43.20 about half an hour before Wall Street’s close.
