Tech Data Corp, Clearwater, Florida-based distributor of computer products, has reported first-quarter net income that rose 21.3% to $28m on revenue that soared 77.5% to $3.88bn. Earnings per share for the quarter rose 15.2% to $0.53, beating the First Call consensus by a penny. Tech Data had said as far back as February that it expected earnings to be in the range of $0.52 to $0.57, but most analysts had hovered around the bottom of that range.
The company says it saw strong sales in all product divisions, led by the systems division which increased 104% over the year- ago period. Revenue from peripherals grew 78%, while sales of software and networking products grew 71% and 49%, respectively. On a geographic basis – excluding the effect of acquisitions – first-quarter sales growth was 17% in the US, 18% in Europe and 17% worldwide. US revenues represented roughly 46% of the total during the quarter, while Europe and other international markets totaled 49% and 5%, respectively.
