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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (655)	6/3/2001 7:02:56 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

TECD ( sold off $27 bounce $32) Posts Drop in Profit, Cuts Outlook for Current Period A WSJ.com News Roundup CLEARWATER, Fla. -- Tech Data Corp. said profit fell 15% in the fiscal first quarter and warned of weak sales in the current period. The No. 2 U.S. wholesaler of personal computers reported net income of $31.8 million, or 59 cents a diluted share, for the quarter ended April 30, compared with net of $37.2 million, or 71 cents a share, in the year-earlier period. Analysts surveyed by Thomson Financial/First Call were expecting a profit of 50 cents a share. Sales fell 5% to $4.68 billion from $4.92 billion a year earlier. Back in March, Tech Data posted fiscal fourth-quarter earnings above expectations but reduced its first-quarter estimate because of a slowdown in information-technology spending. At the time, the company projected first-quarter sales of $4.6 billion to $4.8 billion and earnings of 45 cents to 53 cents a share. Looking forward, Tech Data said Wednesday it now expects to report fiscal second-quarter earnings of $21 million to $25 million, or 39 cents to 45 cents a diluted share, on sales of $4.1 billion to $4.3 billion. Analysts expected the company to report second-quarter earnings of 51 cents a diluted share. Tech Data's first-quarter software sales rose 18%, while systems sales fell 18% and peripherals sales fell 4%. Networking sales, accounting for about 16% of total sales, were flat for the quarter. Peripherals sales represented 45% of total sales in the quarter, systems accounted for 25% and software for 14%. At 4 p.m. Wednesday in Nasdaq Stock Market trading, Tech Data shares fell 12%, or $3.84, to $28.25. more extensive report: biz.yahoo.com