On Wednesday, Shares of Tech Data Corp (NASDAQ:TECD), gained 2.72% to $69.94.
Tech Data Corporation, declared its financial results for the third quarter ended October 31, 2015.
Financial Highlights for the Third Quarter Ended October 31, 2015:
- Net Sales were $6.4 billion, a decrease of 5 percent from $6.8 billion in the preceding-year quarter. On a constant currency basis, and not taking into account from the preceding period net sales generated in Chile, Peru and Uruguay due to the Company’s formerly declared exit from those countries, merged net sales raised about 5 percent.
- The Americas: Net sales were $2.6 billion (40 percent of worldwide net sales), a decrease of 3 percent from the preceding-year quarter. On a constant currency basis, and not taking into account from the preceding period net sales generated in Chile, Peru and Uruguay due to the Company’s formerly declared exit from those countries, net sales grew about 2 percent.
- Europe: Net sales were $3.9 billion (60 percent of worldwide net sales), a decrease of 6 percent from the preceding-year quarter. On a constant currency basis, net sales grew about 6 percent.
- Gross profit was $314.8 million, or 4.90 percent of net sales, contrast to $335.0 million, or 4.95 percent of net sales in the preceding-year quarter. On a constant currency basis, gross profit improved about $9 million, or 3 percent year-over-year.
- Non-GAAP SG&A was $243.9 million, or 3.79 percent of net sales, contrast to $264.2 million, or 3.91 percent of net sales in the preceding-year quarter. On a constant currency basis, non-GAAP SG&A raised about $3 million, or 1 percent year-over-year.
- Non-GAAP operating income was $70.9 million, or 1.10 percent of net sales, contrast to $70.8 million, or 1.05 percent of net sales in the preceding-year quarter. On a constant currency basis, non-GAAP operating income raised about $6 million, or 9 percent year-over-year.
- The Americas: Non-GAAP operating income was $36.6 million, or 1.42 percent of net sales, contrast to $38.2 million, or 1.44 percent of net sales in the preceding-year quarter.
- Europe: Non-GAAP operating income was $37.9 million, or 0.98 percent of net sales, contrast to $36.5 million, or 0.89 percent of net sales in the preceding-year quarter. On a constant currency basis, non-GAAP operating income grew about $7 million, or 19 percent year-over-year.
- Stock-based compensation expense was $3.6 million, contrast to $3.9 million in the preceding-year quarter. These expenses are presented as a separate line item in the company’s segment reporting (see the GAAP to non-GAAP reconciliation in the financial tables of this press release).
- Non-GAAP net income was $45.2 million, or $1.28 per diluted share, contrast to $45.3 million or $1.18 per diluted share in the preceding-year quarter. On a constant currency basis, non-GAAP net income improved about $4 million (about 9 percent), or $0.22 per diluted share (about 19 percent).
- Net cash used by operations during the third quarter was $82 million. For the nine months of fiscal year 2016, net cash offered by operations was $221 million.
- Return on invested capital on a non-GAAP basis for the trailing twelve months was 12 percent.
Tech Data Corporation engages in the wholesale distribution of technology products. It distributes and markets broad line products, such as notebooks, tablets, desktop systems, printers, supplies, and components; and data center products, counting servers, server accessories, networking products, storage hardware, and networking support services.
Shares of Dycom Industries, Inc. (NYSE:DY), declined -2.22% to $86.67, during its last trading session.
Dycom Industries, declared its forthcoming presentation at the Bank of America Merrill Lynch 2015 Leveraged Finance Conference at the Boca Raton Resort & Club, Boca Raton, FL.
Dycom is planned to make its presentation on Thursday, December 3, 2015, at about 3:30 p.m. (ET).
Dycom Industries, Inc. provides specialty contracting services in the United States and Canada. The company offers a range of specialty contracting services, such as engineering, construction, maintenance, and installation services comprising placement and splicing of fiber, copper, and coaxial cables to telecommunications providers. It also provides underground facility locating services, counting locating telephone, cable television, power, water, sewer, and gas lines to various utilities, which comprise telecommunications providers.
Finally, Shares of PDL Bio Pharma Inc (NASDAQ:PDLI), ended its last trade with 0.76% gain, and closed at $3.97.
PDL BioPharma, declared that John P. McLaughlin, the company’s president and chief executive officer, will present at the 27th Annual Piper Jaffray Healthcare Conference next week in New York City. The presentation will be webcast live and will occur on Tuesday, December 1, 2015 at 9:30 a.m. EST.
PDL Bio Pharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.