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SED Reports Higher Q2 Profits

2/09/2012 04:25:34 PM Eastern

Lawrenceville, Ga.
- SED International Holdings, a distributor of CE and related products,
reported higher net and operating income on lower net revenue in its fiscal
second quarter, ended Dec. 31, 2011.

Quarterly net
revenue decreased 3.8 percent to $150.9 million, from $157 million in last
year's comparable period due primarily to an industrywide disk-drive shortage
related to flooding in Thailand, the location of major suppliers of disk-drive
and drive components.

Net income
increased 326 percent to $3.8 million, compared with net income of $900,000 million
in the comparable period last year.

Operating income
increased 246 percent to $4.3 million, compared with operating income of $1.2
million in the comparable period last year.

 "SED delivered strong bottom-line results, due
primarily to robust holiday sales and a favorable product mix," said Jonathan
Elster, president/CEO of SED International. "The e-commerce segment, where we
have made considerable investments, was a major driver of our holiday sales
strength and our results benefitted from a more favorable product mix. While an
industrywide shortage of hard drives from a tragic natural disaster in Thailand
resulted in lower revenues, margins improved due to the scarce supply and our
careful management of the supply chain."

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