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Tech Data Corp. (TECD) filed Quarterly Report for the period ended 2011-10-31.
Tech Data Corp. has a market cap of $2.14 billion; its shares were traded at around $49.23 with a P/E ratio of 9.8 and P/S ratio of 0.1. Tech Data Corp. had an annual average earning growth of 5.2% over the past 10 years.
This is the annual revenues and earnings per share of TECD over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of TECD.
Highlight of Business Operations:
Our consolidated net sales were $6.6 billion in the third quarter of fiscal 2012, an increase of 7.0% when compared to the third quarter of fiscal 2011. The strengthening of certain foreign currencies against the U.S. dollar positively impacted our year-over-year net sales comparison by approximately three percentage points. On a regional basis, during the third quarter of fiscal 2012, net sales in the Americas increased by 3.1% when compared to the third quarter of fiscal 2011 and increased by 10.0% in Europe (an increase of 5.6% on a euro basis). On a year-to-date basis, net sales were $19.4 billion during the first nine months of fiscal 2012, an increase of 12.3% when compared to the first nine months of fiscal 2011. The strengthening of certain foreign currencies against the U.S. dollar positively impacted our year-to-date year-over-year net sales comparison by approximately five percentage points.SG&A as a percentage of net sales decreased to 3.87% for the third quarter of fiscal 2012, compared to 3.95% in the third quarter of fiscal 2011. On a year-to-date basis, SG&A as a percentage of net sales remained stable at 4.00% compared to 3.99% in the comparable period of the prior fiscal year. The relative stability of our SG&A as a percentage of sales during both the third quarter and first nine months of fiscal 2012 compared to the same periods of the prior year is the result of increased costs incurred to support our sales growth and diversification strategies being largely offset by operating leverage on the increase in net sales and cost saving initiatives during the respective periods.
In absolute dollars, SG&A increased by $11.9 million to $255.2 million in the third quarter of fiscal 2012 compared to the third quarter of fiscal 2011 and increased by $86.7 million to $775.0 million in the first nine months of fiscal 2012 compared to the same period of the prior year. The year-over-year increase in SG&A is primarily attributable to the increased costs to support our sales growth and diversification strategies discussed above and the strengthening of certain foreign currencies against the U.S. dollar.
Our effective tax rate was 29.1% in the third quarter of fiscal 2012 and 30.0% in the third quarter of fiscal 2011. Our effective tax rate was 27.7% for the first nine months of fiscal 2012 compared to 29.3% for the same period of the prior year. The decrease in the effective rate for both the third quarter and first nine months of fiscal 2012 compared to the same periods of the prior year is primarily the result of the relative mix of earnings and losses within the tax jurisdictions in which we operate.
On an absolute dollar basis, the provision for income taxes increased 7.5% to $23.6 million for the third quarter of fiscal 2012 compared to $21.9 million in the same period of fiscal 2011. On a year-to-date basis, the provision for income taxes increased 5.7% to $60.4 million compared to $57.2 million for the same period of the prior fiscal year. The increase in the provision for income taxes in these periods was primarily due to an increase in taxable earnings in certain countries in which we operate compared to the same periods of fiscal 2011.
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