Tech Data Reports Record Q3By Sara Driscoll | Posted 2007-11-27 Email Print
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The distribution giant sees sales and operating profit both up for its fiscal third quarter 2008.Tech Data has reported net sales for its fiscal 2008 third quarter ended Oct. 31 of $5.9 billion, an increase of 9.1 percent from $5.4 billion in the prior-year period and a Q3 record for the company.
Third quarter net income totaled $40.9 million, compared to net income of $9.6 million for the prior-year period. Net sales in the Americas (including the United States, Canada, Latin America and export sales to the Caribbean) were $2.9 billion, or 49 percent of worldwide net sales, representing an increase of 10.3 percent over the third quarter of fiscal 2007 and a decrease of .9 percent from the second quarter of fiscal 2008.
Net sales in Europe totaled $3 billion, or 51 percent of worldwide net sales, representing an increase of 7.9 percent (1.7 percent decrease on a local currency basis) over the third quarter of fiscal 2007 and an increase of 12.5 percent (9.2 percent increase on a local currency basis) over the second quarter of fiscal 2008.