Financials
TECH DATA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(In thousands, except per share amounts)
April 30,
1999 1998
Net sales $3,877,158 $2,184,366
Cost and expenses:
Cost of products sold 3,651,916 2,044,599
Selling, general and
administrative expenses 158,249 94,801
3,810,165 2,139,400
Operating profit 66,993 44,966
Interest expense 16,914 7,954
Net foreign currency
exchange loss 4,757 ---
Income before income taxes 45,322 37,012
Provision for income taxes 17,179 13,815
Income before minority
interest 28,143 23,197
Minority interest 119 92
Net income $ 28,024 $ 23,105
Net income per
common share:
Basic $ .55 $ .48
Diluted $ .53 $ .46
Weighted average common
shares outstanding:
Basic 51,133 48,285
Diluted 57,421 50,323
TECH DATA CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(In thousands)
April 30, January 31,
1999 1999
ASSETS
Current assets:
Cash and cash equivalents $ 223 $ 8,615
Accounts receivable, net 1,676,905 1,796,045
Inventories 1,284,590 1,369,351
Prepaid and other assets 104,707 113,952
Total current assets 3,066,425 3,287,963
Property and equipment,
net 131,916 126,537
Excess of cost over
acquired net assets, net 322,503 345,326
Other assets, net 55,982 85,161
$3,576,826 $3,844,987
LIABILITIES AND
SHAREHOLDERS' EQUITY
Current liabilities:
Revolving credit loans $ 784,986 $ 817,870
Accounts payable 1,291,679 1,503,866
Accrued expenses 246,079 241,170
Total current liabilities 2,322,744 2,562,906
Long-term debt 308,482 308,521
2,631,226 2,871,427
Minority interest 1,657 6,269
Total shareholders' equity 943,943 967,291
Total liabilities and
shareholders' equity $3,576,826 $3,844,987
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