Tech Data reported that sales and earnings for both the fourth quarter and fiscal year, which ended January 31, were both up substantially.
The Clearwater, Fla.-based technology distributor said that fourth quarter sales increased 24% to $4.8 billion from $3.9 billion for the comparable quarter last year. Net income for the fourth quarter totaled $37.1 million compared with $34.5 million.
For the fiscal year Tech Data's sales rose 47.4% to $17 billion, compared with $11.5 billion for the previous fiscal year. Net income for the year totaled $127.5 million versus $119.4 million for the previous year, excluding the after-tax gain of $9.6 million on the sale of Macrotron AG last year.
The company experienced strong fourth quarter sales growth and profitability across all regions. Sales growth rates in the U.S., Europe and other international markets were 39% (22% growth in local currency) and 78%, respectively, in the fourth quarter. U.S. businesses represented about 47% of overall sales during the quarter, while Europe and other international markets totaled 46& and 7% respectively.
All product categories generated significant growth during the fourth quarter, led by peripherals with a 31% increase over the prior year, followed by systems, 25%, networking, 17% and software, 11%.