Tech Data stock down 10%

CLEARWATER — Despite $6.3 billion in quarterly revenues and $48.7 million in profits, investors were bearish on Tech Data Corp. (symbol: TECD) following the release of its financial results Monday morning.

Shares were down more than 10% in early Monday trading, to a per-share value of roughly $48. The stock had closed at $53.60 on Friday.

Tech Data's quarterly revenues were up roughly 13% over the year, and its net income is 7% larger than it was in the first quarter of 2010. Its quarterly operating income was $75.7 million for the quarter, up 9%.