Courtesy of: Thestreet.com
Tech Data rose 5% after the company posted in-line first-quarter earnings and issued a higher-than-expected second-quarter revenue projection. The computer-products distributor posted earnings of $12.9 million, or 23 cents a share, on revenue of $4.94 billion. Excluding items, the company reported earnings from continuing operations of $18 million, or 32 cents a share. Analysts polled by Thomson First Call expected earnings of 32 cents a share and revenue of $4.91 billion. A year earlier, the company earned $33.5 million, or 56 cents a share, on revenue of $5.06 billion.
For the second quarter, Tech Data sees earnings of 30 cents to 36 cents a share on revenue of $4.95 billion to $5.1 billion. Analysts project earnings of 37 cents a share and revenue of $4.84 billion. Shares were trading up $1.58 to $36.56.
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