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02 Mar 2010
Computer 2000 parent Tech Data claims it has taken market share from competitors in key areas as it posted a surge in fourth-quarter sales.
The broadline distributor logged revenues of $5.7bn (£3.8bn) in the three months to 31 January, a 10 per cent hike on last year including a fortuitous eight per cent boost from currency fluctuations.
European revenues surged 12.3 per cent in dollars to $3.78bn and grew 1.5 per cent in euros.
Further reading
The bottom line also progressed nicely as net profit rose from $57m to $70.1m on an annual comparison.
Chief executive Robert Dutkowsky was in an upbeat mood.
He said in a statement: “Despite the worldwide recession and lower levels of IT spending, our team's rigorous execution and disciplined focus resulted in targeted market share gains, expanded operating margin, record earnings per diluted share and an outstanding return on capital employed of 13 percent for the year.”
The impact the recession had on Tech Data’s full-year results was clear as revenues for the 12 months to 31 January fell 8.2 per cent on last year to $22.1bn. Europe contributed $12.5bn towards the total, down from $13.5bn a year earlier.
Tech Data predicted that the weakened dollar and improving market conditions would lead to “mid single-digit” growth in its fiscal first quarter to 30 April.
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