BOSTON (Thomson Financial) - Tech Data Corp. Thursday said first-quarter
adjusted earnings rose to $23 million, or 43 cents a share, topping the mean
estimate of analysts polled by Thomson Reuters of 42 cents a share.
In the same period a year earlier, the company posted adjusted earnings of
$18.2 million, or 33 cents a share.
Revenue for the Clearwater, Fla.-based provider of information technology
products rose 12.3% to $6.07 billion from $5.4 billion a year earlier. Analysts,
on average, estimated revenue of $5.74 billion.
For the second quarter, Tech Data forecasts revenue of $6 billion to $6.2
billion, above the current consensus estimate of $5.66 billion. The company
expects to incur about $4 million in consulting and integration costs related to
the acquisition of certain assets of Nordic-based Scribona AB during the second
quarter.
Shares closed Wednesday at $36.90.
Casey Logan
cl/jw
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