TechData二季度收入增14%
作者： 西岸
责任编辑： 阚智
来源： 《电脑商情报》
时间： 2007-08-23 00:19
Tech Data Corporation (NASDAQ:TECD), a leading distributor of IT products, today announced results for the second quarter ended July 31, 2007.
Results At A Glance (1)
----------------------------------------------------------------------
Three months Three months
ended ended
($ in millions, except per share amounts) July 31, 2007 July 31, 2006
----------------------------------------------------------------------
Net sales $ 5,613.3 $ 4,943.3
Operating income (loss) (GAAP) $ 26.7 $ (130.9)
Operating income (Non-GAAP) $ 47.6 $ 18.0
Net income (loss) (GAAP) $ 7.2 $ (155.5)
Net income (Non-GAAP) $ 27.5 $ .3
Net income (loss) per diluted share (GAAP) $ .13 $ (2.81)
Net income per diluted share (Non-GAAP) $ .50 $ .01
(1) Please refer to the GAAP to Non-GAAP Reconciliation that is
contained in the attached financial summary.
This information is also available on the Investor Relations section of Tech Data's website at www.techdata.com.
Net sales for the second quarter ended July 31, 2007 were $5.6 billion, an increase of 13.6 percent from $4.9 billion in the prior-year period and a record for the second quarter.
The company recorded net income of $7.2 million, or $.13 per diluted share for the second quarter ended July 31, 2007, based upon Generally Accepted Accounting Principles ("GAAP"). This compared to a net loss of $(155.5) million, or $(2.81) per diluted share for the prior-year period. Results for the second quarter of fiscal 2008 include a $4.3 million charge for the loss on disposal of subsidiaries and $16.6 million in restructuring charges. The loss on disposal of subsidiaries relates to the company's decision to exit its operations in Israel and the United Arab Emirates (UAE) as part of its ongoing initiatives to optimize profitability and return on capital employed. The charge is comprised of $2.7 million of non-cash foreign currency translation losses related to the operations in Israel which had been previously recorded in shareholders' equity, $1.0 million of costs related to the sale of the Israel operations and $.6 million for UAE severance costs. The restructuring charges totaling $16.6 million, substantially all of which relate to the closure of a European logistics center to gain synergies and reduce future operating expenses, is comprised of approximately $8.0 million of severance costs and $8.6 million of facility costs and other fixed asset write-offs. Excluding the noted charges totaling $20.9 million, non-GAAP net income for the second quarter of fiscal 2008 totaled $27.5 million, or $.50 per diluted share.
Results for the comparable second quarter of fiscal 2007 included a non-cash charge of $136.1 million for goodwill impairment as a result of the company's performance in Europe and an $8.4 million non-cash charge to increase the valuation allowance for certain deferred tax assets related to Europe. The prior-year second quarter also included $11.2 million of restructuring charges and $1.6 million of consulting costs related to the company's European restructuring program which was completed in the third quarter of fiscal 2007. Excluding these charges and costs, non-GAAP net income for the second quarter of fiscal 2007 totaled $.3 million, or $.01 per diluted share.
"We are extremely pleased with our second quarter performance as our focus on execution delivered strong results in both of our geographic regions. Through responsible sales and product management, we achieved record second-quarter net sales - highlighted by very strong growth in the Americas region that outpaced the market," commented Robert M. Dutkowsky, Tech Data's chief executive officer. "We delivered a significant year-over-year turnaround in our operating results in the European region with a 91 basis point improvement on a non-GAAP basis. Tech Data is in a solid position to further leverage our strength in execution to improve our performance in the second half of this fiscal year."
Results At A Glance (1)
----------------------------------------------------------------------
Three months Three months
ended ended
($ in millions, except per share amounts) July 31, 2007 July 31, 2006
----------------------------------------------------------------------
Net sales $ 5,613.3 $ 4,943.3
Operating income (loss) (GAAP) $ 26.7 $ (130.9)
Operating income (Non-GAAP) $ 47.6 $ 18.0
Net income (loss) (GAAP) $ 7.2 $ (155.5)
Net income (Non-GAAP) $ 27.5 $ .3
Net income (loss) per diluted share (GAAP) $ .13 $ (2.81)
Net income per diluted share (Non-GAAP) $ .50 $ .01
(1) Please refer to the GAAP to Non-GAAP Reconciliation that is
contained in the attached financial summary.
This information is also available on the Investor Relations section of Tech Data's website at www.techdata.com.
Net sales for the second quarter ended July 31, 2007 were $5.6 billion, an increase of 13.6 percent from $4.9 billion in the prior-year period and a record for the second quarter.
The company recorded net income of $7.2 million, or $.13 per diluted share for the second quarter ended July 31, 2007, based upon Generally Accepted Accounting Principles ("GAAP"). This compared to a net loss of $(155.5) million, or $(2.81) per diluted share for the prior-year period. Results for the second quarter of fiscal 2008 include a $4.3 million charge for the loss on disposal of subsidiaries and $16.6 million in restructuring charges. The loss on disposal of subsidiaries relates to the company's decision to exit its operations in Israel and the United Arab Emirates (UAE) as part of its ongoing initiatives to optimize profitability and return on capital employed. The charge is comprised of $2.7 million of non-cash foreign currency translation losses related to the operations in Israel which had been previously recorded in shareholders' equity, $1.0 million of costs related to the sale of the Israel operations and $.6 million for UAE severance costs. The restructuring charges totaling $16.6 million, substantially all of which relate to the closure of a European logistics center to gain synergies and reduce future operating expenses, is comprised of approximately $8.0 million of severance costs and $8.6 million of facility costs and other fixed asset write-offs. Excluding the noted charges totaling $20.9 million, non-GAAP net income for the second quarter of fiscal 2008 totaled $27.5 million, or $.50 per diluted share.
Results for the comparable second quarter of fiscal 2007 included a non-cash charge of $136.1 million for goodwill impairment as a result of the company's performance in Europe and an $8.4 million non-cash charge to increase the valuation allowance for certain deferred tax assets related to Europe. The prior-year second quarter also included $11.2 million of restructuring charges and $1.6 million of consulting costs related to the company's European restructuring program which was completed in the third quarter of fiscal 2007. Excluding these charges and costs, non-GAAP net income for the second quarter of fiscal 2007 totaled $.3 million, or $.01 per diluted share.
"We are extremely pleased with our second quarter performance as our focus on execution delivered strong results in both of our geographic regions. Through responsible sales and product management, we achieved record second-quarter net sales - highlighted by very strong growth in the Americas region that outpaced the market," commented Robert M. Dutkowsky, Tech Data's chief executive officer. "We delivered a significant year-over-year turnaround in our operating results in the European region with a 91 basis point improvement on a non-GAAP basis. Tech Data is in a solid position to further leverage our strength in execution to improve our performance in the second half of this fiscal year."
