Boston, MA 08/27/2014 (wallstreetpr) – The U.S. based Tech Data Corp (NASDAQ:TECD), in a press report, unveiled its second quarter’s financial result. The report holds the economic changes and alterations for the period that ended on July 31, 2014. The Chief Executive Officer of Tech Data, Robert M. Dutkowsky was delighted to report the excellent second quarter in fiscal 2015.
Financial statistics of 2Q2014:
The comprehensive distributor of technological products, Tech Data Corp (NASDAQ:TECD), reported net income of $39.3 million ($1.03 per diluted share) in the second quarter of 2014, while the net income in 2Q2013 was $14.7 million ($0.38 per diluted share). The non-GAAP net income surged to $42.9 million ($1.12 per diluted share) from $27.9 million a year back.
The net sales:
The net sales in 2Q this year experienced a rise of 8% from the prior-year quarter. The net sales figure stands at $6.8 billion, while it was $6.3 billion in 2013. However, the consolidated net sales also hiked 6% compared to the last year’s same quarter. The net sales in Europe was $4.1 billion (60% of the entire sales), increased 11% this quarter. Also, the Americas net sale $2.7 billion (40% of the entire sales) increased 4% from the prior year quarter.
Tech Data Corp (NASDAQ:TECD), in the financial balance sheet, posted gross profit of $351.4 million, which signifies 5.4% of the net sales. The gross profit was $315.8 million in 2Q2013, representing 4.99% of the total sales.
The operating income in the 2Q was $67.7 million, equivalent to 0.99% of the net sales. Last year in the same period, the operating income was $29.9 million. In this quarter, the operating income for Europe and America were $32.7 million and $38.9 million, respectively.