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Tech Data has announced its financial results for the fourth quarter and fiscal year ended January 31st.
For the distributor’s Q4 results, worldwide net sales were $10.4 billion, a decrease of 1 percent compared to the prior-year quarter. In Europe, net sales were $5.8 billion, a decrease of 2 percent compared to the prior-year quarter. In both instances, on a constant currency basis, net sales were flat.
Looking at Tech Data’s financial year results, worldwide net sales were $37.0 billion, a decrease of 1 percent compared to the prior year. On a constant currency basis, net sales increased 2 percent.
Specifically in Europe, net sales were $19.1 billion, a decrease of 4 percent compared to the prior year. On a constant currency basis, net sales were flat.
The financial results come ahead of the completion of Tech Data’s acquisition by Apollo.
“Our fourth quarter capped a momentous year for Tech Data,” said Rich Hume, chief executive officer. “For the fiscal year 2020, we delivered a strong financial performance while making strategic progress and continuing to deliver higher value to our channel partners, colleagues and shareholders.
“We ended the year by reaching our biggest milestone yet – the agreement to be acquired by Apollo. We look forward to completing the transaction and working with the Apollo team to accelerate investments in our business.”
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