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Technology / AI and automation

TECH DATA PROJECTS STRONG Q3 RESULTS

Tech Data Corporation, Clearwater, Florida distributor of personal computer products, says that sales for the third quarter ended October 31, 1997 exceeded $2bn, up more than 61% over last year’s third quarter. The company estimates net income for the quarter of roughly $23m, or $.50 per share, increases of 38% and 32%, while Wall Street was only expecting $0.47 per share. Tech Data credits market share gains in its core US distribution business, which grew about 40% year-over-year, as well as strong international sales. In addition, the third quarter results include a full quarter of estimated results for the company’s German subsidiary, Macrotron AG, which the company acquired in July. Final results for the third quarter will be released in early December.

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CBR Staff Writer

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