Tonernews.com, November 28, 2005. USA
Restructuring hits Tech Data profit
November
2005 – Clearwater (FL): Tech Data has revealed a Q3 profit drop due to
restructuring in Europe, but sales rose 6.6 per cent fuelled by growth
in the Americas.
Net income declined to $23 million, or EPS of
$0.40, compared to $37.8 million, or EPS of $0.64, a year earlier.
Sales climbed to $5.1 million.
The company said its Q3 results
included $4.8 million of restructuring charges and $3.2 million of
consulting costs related to its restructuring program in the EMEA
region (Europe, Middle East and export sales to Africa) announced in
May 2005.