Tech Data (TECD) Tops Q4 EPS by 6c, Revenues Beat

Tech Data (NASDAQ: TECD) reported Q4 EPS of $4.88, $0.06 better than the analyst estimate of $4.82. Revenue for the quarter came in at $10.38 billion versus the consensus estimate of $10.35 billion.

Financial Highlights for the Fourth Quarter Ended January 31, 2020:

• Worldwide net sales were $10.4 billion, a decrease of 1 percent compared to the prior-year quarter. On a constant currency basis, net sales were flat.
  • Americas: Net sales were $4.3 billion, an increase of 1 percent compared to the prior-year quarter. On a constant currency basis, net sales increased 1 percent.
  • Europe: Net sales were $5.8 billion, a decrease of 2 percent compared to the prior-year quarter. On a constant currency basis, net sales were flat.
  • Asia Pacific: Net sales were $0.3 billion, flat compared to the prior-year quarter. On a constant currency basis, net sales were also flat.
  • The following vendor represented 10 percent or more of worldwide net sales in the fourth quarter: Apple Inc. 19 percent.
• Net cash generated by operations during the quarter was $180 million. The cash conversion cycle was 15 days, equal to the year-ago period.

“Our fourth quarter capped a momentous year for Tech Data,” said Rich Hume, chief executive officer. “For the fiscal year 2020, we delivered a strong financial performance while making strategic progress and continuing to deliver higher value to our channel partners, colleagues and shareholders. We ended the year by reaching our biggest milestone yet—the agreement to be acquired by Apollo. We look forward to completing the transaction and working with the Apollo team to accelerate investments in our business.”

For earnings history and earnings-related data on Tech Data (TECD) click here.

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