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Tech Data reveals Q4 and FY results ahead of acquisition

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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