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SED Reports Profit, Sales Gain In Quarter

Tucker, Ga. – SED
International Holdings, a multinational supply-chain 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

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

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.