UPDATE 1-Tech Data posts strong results; sees sales growth in Q3

* Q2 EPS $0.82 vs est. $0.78

* Q2 net sales $5.47 bln vs est. $5.44 bln

* Sees foreign currency (Read more about trading foreign currency. to have more effect in H2

Aug 19 (BestGrowthStock) – Tech Data Corp (TECD.O: ) reported
quarterly results that beat Wall Street expectations and said
it expects demand trends to continue into the third quarter,
with sales growth in the Americas and Europe.

However, the technology products distributor said it
expects the impact of foreign currencies to have a more
pronounced effect on second-half results than the first. The
second-quarter sales was hit by a stronger U.S. dollar.

For the second quarter ended July 31, the company’s net
income was $40.9 million, or 82 cents a share, compared to
$35.2 million, or 70 cents a share in the year-ago period.

Net sales rose 5.6 percent to $5.47 billion.

Analysts on average were expecting a profit of 78 cents a
share and revenue of $5.44 billion, according to Thomson
Reuters I/B/E/S.

The Americas region, which includes North America and Latin
America, grew 8.4 percent, while sales in Europe grew 3.2
percent.

Shares of Tech Data, which have risen more than 5 percent
since the beginning of this week, closed at $38.67 Wednesday on
Nasdaq.
(Reporting by Jennifer Robin Raj in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-Tech Data posts strong results; sees sales growth in Q3