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November 4, 1997updated 03 Sep 2016 2:31pm

TECH DATA PROJECTS STRONG Q3 RESULTS

By CBR Staff Writer

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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