Date: Monday November 28, 2005 10:58:00 am
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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.
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