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Tech Data Corp.
CLEARWATER — Business continues to grow for Clearwater-based Tech Data Corp. (symbol: TECD) by every measure: net sales, operating income, margin and net income all increased over 2009.
Tech Data, a distributor of computer and communications office products, generated $24.4 billion in net sales in the year ended Jan. 31, 2011, up 10% from the prior year. Its operating income grew 29%, to $334 million; its operating margin grew by 0.2 percentage points to 1.37%; and net income grew 19% to $214.2 million.
“A healthy technology spending environment in both regions combined with our superior execution and targeted investments in infrastructure, M&A and business processes, resulted in one of the best years in our company's history,” said CEO Robert Dutkowsky.
The two regions Dutkowsky refers to are the Americas, which accounted for 43% of Tech Data's worldwide sales last year, and Europe. Both regions saw revenues grow by 10% in 2010.
Tuesday's opening price for shares of Tech Data stock was $52.96, setting a new 52-week high for the company's value.
Sykes Enterprises Inc.
TAMPA — Sykes Enterprises Inc. (symbol: SYKE) lost nearly $30 million on its operations in Argentina in 2010. That led to an overall net loss of $10.2 million for the year.
Sykes' 2010 revenues were $1.2 billion, up 42% over the year after the firm acquired ICT in late 2009.
Excluding its Argentina losses, Sykes earned $19.7 million in after-tax income. In 2009, Sykes earned $43.2 million in profits on $813.6 million in revenues.
Headquartered in Tampa, Sykes Enterprises Inc. provides outsourcing solutions for many standard business practices, like customer contact and helpdesk services, to clients around the world.
Despite the pullback in profitability, investors were bullish on Sykes' future prospects in early Tuesday trading. Shares of Sykes stock reached $19.31, up 3.8% from Monday's close.
In its earnings release, the company said it expected to earn nearly $50 million in profits over the next year. Sykes' confidence about future earnings is based on solidifying demand in markets all over the globe.
“Within the Americas region, demand is broadening and is being led by the financial services vertical,” the company said in its release. And in Europe, the Middle East and Africa, the firm is “beginning to see pockets of demand stabilization.”
Odyssey Marine Exploration Inc.
TAMPA — Despite posting record revenues, Odyssey Marine Exploration Inc. (symbol: OMEX) posted a year-end 2010 loss of $23.3 million on revenues of $21 million.
Odyssey engages in deep-ocean exploration, and in many cases leads treasure-hunting expeditions at various shipwreck sites around the globe. The $23.3 million loss follows an $18.6 million loss in 2009.
Despite the losses, CEO Greg Stemm, said, “The work we completed in 2009 and 2010 sets the stage for what should be a very productive year for Odyssey's marine operations team, with potential for multiple shipwreck recovery operations in 2011.”
Odyssey stock was down 7.65% from its Monday close in early morning trading on Tuesday, to a per-share price of roughly $3.
Two weeks ago, Odyssey officials finalized a unique financing agreement with Galt Resources LLC.
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