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Technology Stocks : TECD - Tech Data
TECD 103.70-0.3%Oct 8 3:30 PM EST

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To: Steve Anglin who wrote (565)6/7/1999 4:23:00 PM
From: Duker  Read Replies (1) of 584
 
Financials

TECH DATA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
(In thousands, except per share amounts)

April 30,
1999 1998

Net sales $3,877,158 $2,184,366
Cost and expenses:
Cost of products sold 3,651,916 2,044,599
Selling, general and
administrative expenses 158,249 94,801

3,810,165 2,139,400

Operating profit 66,993 44,966
Interest expense 16,914 7,954
Net foreign currency
exchange loss 4,757 ---

Income before income taxes 45,322 37,012
Provision for income taxes 17,179 13,815

Income before minority
interest 28,143 23,197
Minority interest 119 92

Net income $ 28,024 $ 23,105

Net income per
common share:
Basic $ .55 $ .48
Diluted $ .53 $ .46

Weighted average common
shares outstanding:
Basic 51,133 48,285
Diluted 57,421 50,323

TECH DATA CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(In thousands)

April 30, January 31,
1999 1999
ASSETS

Current assets:
Cash and cash equivalents $ 223 $ 8,615
Accounts receivable, net 1,676,905 1,796,045
Inventories 1,284,590 1,369,351
Prepaid and other assets 104,707 113,952

Total current assets 3,066,425 3,287,963
Property and equipment,
net 131,916 126,537
Excess of cost over
acquired net assets, net 322,503 345,326
Other assets, net 55,982 85,161

$3,576,826 $3,844,987

LIABILITIES AND
SHAREHOLDERS' EQUITY

Current liabilities:
Revolving credit loans $ 784,986 $ 817,870
Accounts payable 1,291,679 1,503,866
Accrued expenses 246,079 241,170

Total current liabilities 2,322,744 2,562,906
Long-term debt 308,482 308,521

2,631,226 2,871,427

Minority interest 1,657 6,269

Total shareholders' equity 943,943 967,291

Total liabilities and
shareholders' equity $3,576,826 $3,844,987

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