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SED Reports Profit, Sales Gain During Fiscal Second Quarter

2/21/2011 12:01:00 AM Eastern

TUCKER, GA. — SED International
Holdings, a multinational supplychain
management provider and
distributor, reported a profit and
higher sales in its fiscal second
quarter, ended Dec. 31, 2010.

Net income was $884,000, compared
with a $1.37 million loss in the
prior year’s fiscal second quarter.

Net sales increased 11.8 percent
to $156.9 million from the prior
year’s $140.4 million.

Microcomputer product sales,
including handling revenue, increased
19.5 percent to $138.1
million. CE sales were $18.9 million,
compared with $24.8 million in
the first quarter of fiscal 2010.

U.S. domestic sales, including
exports after eliminations, increased
8.6 percent to $123.1
million. Latin American sales increased
25.1 percent to $33.9
million, after translation into U.S.
dollars. When measured in local
currencies, Latin American sales
increased 18.9 percent.

Operating income improved to
$1.2 million, compared with a loss
of $1.2 million in the second quarter
of fiscal 2010, which included a
$1.6 million employment settlement
charge related to the early retirement
of a senior executive.

For the six months ending Dec.
31, 2010, net sales increased 11.3
percent to $298.6 million, and net
income was $1.6 million, compared
with a net loss of $920,000 in the
prior year’s fiscal first half.

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