go figure!
Tuesday February 2, 8:30 am Eastern Time
Tech Data estimates Q4 EPS $0.61-$0.64
CLEARWATER, Fla., Feb 2 (Reuters) - Tech Data Corp., the world's second-largest computer product distributor, on Tuesday estimated its fiscal fourth-quarter net income at $0.61-$0.64 per diluted share, up from $0.53 a year earlier.
The company said sales for the quarter, ended Jan. 31, exceeded $3.8 billion, up more than 80 percent from the year-earlier $2.1 billion.
Excluding the effect of acquisitions, sales growth rates were about 12 percent, 24 percent and 9 percent in the U.S., Europe and other international markets, respectively, the company said.
Analysts polled by First Call expected the company to post earnings of $0.69 a share for the fourth quarter.
Tech Data estimated net income for the quarter was $33-$35 million, compared with $26.1 million a year earlier.
The current fourth-quarter results include estimated results for its European subsidiary Computer 2000 AG. Tech Data acquired a controlling interest in Computer 2000 last July.
Tech Data said that based on the competitive gross margin environment in North America and selected markets in Europe, as well as the unpredictable economic outlook in Latin America, it expects fiscal 2000 first quarter sales of $3.7-$3.8 billion, and full-year sales of about $16 billion.
It estimated net income for the first quarter at $28-$31 million, or $0.52 to $0.57 a share. The consensus Wall Street estimate is $0.61 a share.
The company estimates net income for fiscal 2000 of $126-$132 million, or $2.30-$2.40 per share. Analysts' consensus estimate is $2.80.
In Nasdaq trading Monday, Tech Data shares closed at 31-13/16. |
