This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tech Data Corporation Reports Fourth-Quarter And Fiscal Year 2013 Results

CLEARWATER, Fla., March 4, 2013 (GLOBE NEWSWIRE) -- Tech Data Corporation (Nasdaq:TECD), a leading distributor of IT products, today announced results for the fourth quarter and fiscal year ended January 31, 2013.

 
Results At A Glance (1)
($ in millions, except per share amounts) Three months ended January 31, 2013 Three months ended  January 31, 2012 Fiscal year ended January 31, 2013 Fiscal year ended January 31, 2012
Net sales $7,463.4 $7,112.6  $25,361.0  $26,488.1
         
Operating income (GAAP) $93.5 $83.8  $303.2  $327.9
Operating income (Non-GAAP)  $93.5  $112.1 $303.2 $356.2
         
Operating income margin (GAAP) 1.25%  1.18% 1.20% 1.24%
Operating income margin (Non-GAAP)  1.25% 1.58%  1.20%  1.34%
         
Net income attributable to shareholders of Tech Data Corporation (GAAP)  $82.5  $54.1 $214.6 $206.4
         
Net income attributable to shareholders of Tech Data Corporation (Non-GAAP) $56.6 $73.3 $188.6 $225.6
         
Net income per diluted share attributable to shareholders of Tech Data Corporation (GAAP)  $2.17  $1.29 $5.48 $4.66
Net income per diluted share attributable to shareholders of Tech Data Corporation (Non-GAAP)   $1.48 $1.75  $4.81  $5.09
(1) Please refer to the GAAP to Non-GAAP Reconciliation that is contained in the attached financial summary.
This information is also available on the Investor Relations section of Tech Data's website at www.techdata.com .

Net sales for the fourth quarter ended January 31, 2013, were $7.5 billion, an increase of 5 percent from $7.1 billion in the prior-year fourth quarter. The translation of foreign currencies against the U.S. dollar had a minimal impact on the year-over-year net sales comparison. In the first quarter of fiscal 2013, the company prospectively revised its presentation of sales of vendor warranty services and certain fulfillment contracts such that they are now reflected on an agency basis as net fees as opposed to net sales and cost of products sold. These items would have contributed approximately $240 million of net sales in the fourth quarter, which negatively impacted the year-over-year net sales comparison by approximately 3 percentage points. This change had no impact on gross profit dollars, operating income dollars, net income dollars or earnings per share for any period reported, but positively impacted the gross margin and operating margin percentages in the fourth quarter of fiscal 2013 by approximately 16 and 4 basis points, respectively. In addition, the SDG acquisition, which closed November 1, 2012, contributed approximately $623 million to fourth quarter fiscal 2013 sales. Also included in prior year net sales is approximately $20 million related to the in-country operations of Brazil and Colombia, which the company exited at the end of fiscal 2012. Excluding the impact of the above factors, net sales were flat year-over-year.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs