Tech Data posts record quarter

Tech Data Corp. earned $50.5 million in third quarter net income on $6.16 billion in net sales. Quarterly profits grew 17.2% from last year, while revenue grew 9.2%. The company has earned $136.9 million in profits on $17.3 billion in net sales through the first nine months of 2010.

CEO Robert Dutkowsky says Tech Data “capitalized on solid demand for technology products in both the Americas and Europe, and successfully balanced selected market share gains with responsible growth,” resulting in all-time bests in third quarter sales and earnings.

On Oct. 1, Tech Data completed its acquisition of Triade Holdings, a group of European electronics distributors, which grew its business. In fact, through the first nine months of the year, 55% of the firm's net sales have come from Europe.

Tech Data Corp. is based in Clearwater. The company generated $22.1 billion in net sales in its 2009 fiscal year, ended Jan. 31, 2010.