Tech Data reports fourth quarter growth
Tech Data, a regional information technology management company, announced Sunday, April 1, record sales and earnings for the fourth quarter and fiscal year ended January 31, 2001.
According to a company release, net income for the fourth quarter increased 42.3 percent to $52.7 million, or $0.92 per diluted share, compared with $37.1 million, or $0.67 per diluted share in the fourth quarter last year. Sales in the fourth quarter increased 11.2 percent to $5.3 billion from $4.8 billion for the comparable quarter last year.
Net income for the year ended January 31, 2001 increased 40 percent to $178.0 million, or $3.14 per diluted share, compared with $127.5 million, or $2.34 per diluted share last year. Sales for the year ended January 31, 2001 increased 20.2 percent to $20.4 billion compared with $17.0 billion last year.
Fourth-quarter sales grew 18 percent in the U.S. and 19 percent in Europe on a local-currency basis. Rest-of-world sales increased 14 percent. Networking sales grew 17 percent during the fourth quarter, while peripherals, software and systems sales increased 12 percent, 11 percent and 7 percent, respectively. Peripherals business represented 45 percent of total sales, systems 26 percent, networking 17 percent and software 12 percent. Electronic commerce sales grew to $5.4 billion on an annualized basis, an increase of 36 percent from the prior-year fourth quarter.
Tech Data FZ-LLC, formerly Computer 2000 LLC, is part of the computer 2000/Tech Data Group. Tech Data Corporation, founded in 1974, is an international provider of technology products and logistics service. The Fortune 500 company and its subsidiaries generated sales of $20.4 billion for its most recent fiscal year, which ended January 31, 2001. — (Albawaba-MEBG)
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