Tech Data (TECD) Tops Q4 EPS by 28c

Tech Data (NASDAQ: TECD) reported Q4 EPS of $2.45, $0.28 better than the analyst estimate of $2.17. Revenue for the quarter came in at $7.43 billion versus the consensus estimate of $7.5 billion.

Business Outlook

Due to the short timeframe between the reporting of Tech Data’s fourth quarter results and completion of Tech Data’s acquisition of Avnet’s Technology Solutions business (“Technology Solutions”), the Company is not providing financial guidance for its first quarter of fiscal year 2018. Tech Data plans to provide financial guidance for the combined company with its first-quarter fiscal year 2018 results.

Tech Data expects the Technology Solutions transaction to be significantly accretive to the Company’s non-GAAP earnings per share in the first year after closing. The Company also expects to realize $50 million of cost savings in the first 12 months after closing, and $100 million during the second full year. In addition, the Company expects to incur one-time costs to achieve the cost savings of approximately $150 million.

For earnings history and earnings-related data on Tech Data (TECD) click here.

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