*NEWS*RESTRUCTURING HITS TECH DATA PROFIT

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*NEWS*RESTRUCTURING HITS TECH DATA PROFIT

 user 2005-11-28 at 10:59:00 am Views: 88
  • #13248

    Restructuring hits Tech Data profit
    November
    2005 – Clearwater (FL): Tech Data has revealed a Q3 profit drop due to
    restructuring in Europe, but sales rose 6.6 per cent fuelled by growth
    in the Americas.
    Net income declined to $23 million, or EPS of
    $0.40, compared to $37.8 million, or EPS of $0.64, a year earlier.
    Sales climbed to $5.1 million.
    The company said its Q3 results
    included $4.8 million of restructuring charges and $3.2 million of
    consulting costs related to its restructuring program in the EMEA
    region (Europe, Middle East and export sales to Africa) announced in
    May 2005.