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NEWS     
FOR IMMEDIATE RELEASE     

TECH DATA CORPORATION REPORTS THIRD QUARTER
FISCAL YEAR 2019 RESULTS


CLEARWATER, Fla., (November 29, 2018)
-- Tech Data (Nasdaq: TECD) (the “Company”) today announced its financial results for the third quarter ended October 31, 2018.

 
 Third quarter ended October 31,
Nine months ended October 31,
($ in millions,
except per share amounts)
2018
2017
Y/Y Change
2018
2017
Y/Y Change
Net Sales
$9,340.0
$8,448.5
11%
$26,774.4
$23,564.4
14%
 
 
 
 
 
 
 
Operating income (GAAP)
$146.9
$79.6
85%
$327.7
$258.2
27%
Operating margin (GAAP)
1.57%
0.94%
63 bps
1.22%
1.10%
12 bps
 
 
 
 
 
 
 
Operating income (Non-GAAP)
$188.0
$135.7
39%
$447.0
$386.8
16%
Operating margin (Non-GAAP)
2.01%
1.61%
40 bps
1.67%
1.64%
3 bps
 
 
 
 
 
 
 
Net income (GAAP)
$114.2
$37.3
206%
$223.8
$115.4
94%
Net income (Non-GAAP)
$116.3
$76.7
52%
$264.8
$213.5
24%
 
 
 
 
 
 
 
EPS - diluted (GAAP)
$2.96
$0.97
205%
$5.80
$3.03
91%
EPS - diluted (Non-GAAP)
$3.02
$2.00
51%
$6.87
$5.60
23%

A reconciliation of GAAP to non-GAAP financial measures is presented in the financial tables of this press release.
This information is also available on the Investor Relations section of Tech Data’s website at www.techdata.com/investor.
Financial Highlights for the Third Quarter Ended October, 31, 2018:
Net sales were $9.3 billion, an increase of 11 percent compared to the prior-year quarter. On a constant currency basis, net sales increased 12 percent.

o
Americas: Net sales were $4.1 billion (44 percent of worldwide net sales), an increase of 13 percent. On a constant currency basis, net sales increased 14 percent.

o
Europe: Net sales were $4.9 billion (53 percent of worldwide net sales), an increase of 9 percent. On a constant currency basis, net sales increased 12 percent.

o
Asia Pacific: Net sales were $0.3 billion (3 percent of worldwide net sales), an increase of 6 percent. On a constant currency basis, net sales increased 12 percent.
Gross profit was $556.6 million, an increase of $30.5 million, or 6 percent. As a percentage of net sales, gross profit was 5.96 percent compared to 6.23 percent in the prior-year quarter.

Selling, general and administrative expenses (“SG&A”) were $396.7 million, or 4.25 percent of net sales, compared to $416.8 million, or 4.93 percent of net sales in the prior-year quarter. Non-GAAP SG&A was $368.6 million, a decrease of $21.8 million, or 6 percent. As a percentage of net sales, non-GAAP SG&A was 3.95 percent, compared to 4.62 percent in the prior-year quarter. Included in SG&A and non-GAAP SG&A expenses is a $25 million benefit from the collection of a previously reserved accounts receivable.



The following information was filed by Tech Data Corp (TECD) on Thursday, November 29, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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