Net income for the fourth quarter increased 42.3% to $52.7 million, or $.92 per diluted share, compared with $37.1 million, or $.67 per diluted share in the fourth quarter last year. Sales in the fourth quarter increased 11.2% to $5.3 billion from $4.8 billion for the comparable quarter last year.

Net income for the year ended January 31, 2001 increased 40.0% 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% to $20.4 billion compared with $17.0 billion last year.

Our results for the quarter and fiscal year clearly demonstrate Tech Data’s superior earnings power, commented Steven A. Raymund, Tech Data’s chairman and chief executive officer. This record-breaking performance underscores that we have the right business model and strategic direction for long-term success. Tech Data is clearly the best performer in its industry, and we are poised to strengthen this leadership position.

Fourth-quarter sales grew 18% in the U.S. and 19% in Europe on a local-currency basis. Rest-of-world sales increased 14%. Networking sales grew 17% during the fourth quarter, while peripherals, software and systems sales increased 12%, 11% and 7%, respectively. Peripherals business represented 45% of total sales, systems 26%, networking 17% and software 12%. Electronic commerce sales grew to $5.4 billion on an annualized basis, an increase of 36% from the prior-year fourth quarter.

In addition to driving strong electronic commerce results and e-business innovations, the company is applying best practices across its worldwide operations to further improve efficiency. Tech Data’s strategic initiatives also include intense focus on helping its customers and vendors reduce overall costs, particularly through outsourcing services the company now offers through a dedicated division. Among other recent developments, Tech Data announced the formation of nine Specialized Business Units to increase its penetration in various technology segments: Components; Software Licensing, Supplies & Accessories; Information Appliances; CAD/graphics; Digital Imaging; Apple; Enterprise; and Networking Solutions.