Tech Data Corp (NASDAQ:TECD)’s fiscal Q1 earnings increased 6.1% as the wholesale distributor of information-technology products trimmed costs, though its sales fell short of forecasts.
For the quarter closed April 30, Tech Data announced a profit of $51.7 million, or $1.24 per share, higher from $48.7 million, or $1.03, a year before. Sales fell 6.9% to $5.9 billion, due partly to the weakening of certain foreign currencies versus the US dollar.
Analysts surveyed by Thomson Reuters had most recently predicted earnings of $1.16 per share on sales of $6.18 billion.
Gross margin increased to 5.4% as compared to 5.3%, reflecting a 7.1% decline in input expenses
Its competitors include Ingram Micro Inc. (NYSE:IM) that moved up 1.08% to $18.25 with the total traded volume of 504,574.00 shares and SYNNEX Corporation (NYSE:SNX) that surged 1.78% to $34.27 with the total traded volume of 22,094.00 shares.
Other technology stocks with bullish trend include Oracle Corporation (NASDAQ:ORCL) up 2.34% to $26.21, Sprint Nextel Corporation (NYSE:S) up 1.71% to $2.38 and Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) up 1.19% to $14.45, whereas with bearish trend include Intel Corporation (NASDAQ:INTC) down -0.27% to $26.00, Linkedin Corporation (NYSE:LNKD) down -1.34% to $97.69 and MEMC Electronic Materials, Inc. (NYSE:WFR) down -2.31% to $1.69.
Tech Data Corp (NASDAQ:TECD) after opening at $47.63 hit high price of $49.87 and then trading at $48.98 by surging 3.20% at 10:56AM EDT and on current session volume of 204,116.00 shares is surprisingly lower than its average volume of 398,253.00 shares.
The stock price volatility was 3.39% for a week and 2.17% for a month as well as price volatility’s Average True Range for 14 days was 1.22 and its beta remained 1.39.
The liquidity measure in recent quarter results of the company was recorded 1.48 as current ratio and on the other side the debt to equity ratio was 0.05 and long-term debt to equity ratio also remained 0.03. The Company had total cash at hand $505.18 million and a book value per share as $48.06 in the most recent quarter.
TECD generated revenue of 26.49 billion in the following twelve months and earned $206.40 million. The Company showed a positive 0.82% in the net profit margin and as well as in its operating margin which remained 1.24%. Company’s annual sales growth for the past five year was 4.32%.
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