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Technology Stocks : Earnings: Small Cap Tech/ Software -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (69)	8/29/2001 6:07:54 PM
From: 2MAR$	Read Replies (1) \| Respond to of 238

TECD ( $34 -$38) P/E 11 tops Q2 expectations surges A/H By Matt Andrejczak, CBS.MarketWatch.com Last Update: 5:23 PM ET Aug. 29, 2001 CLEARWATER, Fla. (CBS.MW) -Tech Data, the world's No. 2 distributor of microcomputer products, on Wednesday topped second-quarter profit expectations and bumped up its third-quarter outlook. Shares of Tech Data (TECD: news, chart, profile) surged $4.40, or 13.19 percent, to $37.75 on the news in evening trading. In regular trading hours Wednesday, the stock had shed 94 cents to close at $33.35. The Clearwater, Fla.-based distributor of printers, modems and other computer peripherals reported a second-quarter profit of $13.9 million, or 25 cents per share, compared to a profit of $40.7 million, or 72 cents per share the same period a year ago. Excluding special charges, the company rang up net income of $27.2 million, or 49 cents per share. Sales fell 17 percent over the same period, to $4.1 billion. Analysts polled by Thomson Financial/First Call estimated the company would earn 41 cents per share. During the quarter, Tech Data recorded $20 million in charges stemming from the disposition of supply chain software and soured Internet-related investments. Tech Data projects it will earn $27 million to $31 million, or 49 cents to 55 cents per share, in the third-quarter. The latest range predicted by analysts was 38 cents to 49 cents per share. Matt Andrejczak is a reporter for CBS.MarketWatch.com. Latest Industry News