Distribution giant Tech Data claimed it was experiencing a "massive market shift" in its favour, following impressive fourth-quarter results.
For the three months ended 31 January, Tech Data, parent of European distributor Computer 2000, recorded sales of $4.8bn (£3.1bn), up 24 per cent from $3.9bn the previous year. Profit for the quarter was $37.1m, up from $34.5m.
Steve Raymund, chief executive at Tech Data, told Computer Reseller News that the distributor was experiencing strong growth in the US in particular.
Sales in the region grew 39 per cent during the fourth quarter. "Competitors are fading, causing a massive shift in market share in our favour," he said.
He conceded that growth in Europe was slower than in the US, but added: "Our advantages (over rivals) include a strong balance sheet, good execution, seasoned management and the right strategy. A costing system, which measures in fine detail the cost to serve individual accounts, is a key advantage in our pricing correctly and competitively."
Raymund said the distributor had begun raising prices, claiming the "irrational" pricing that was prevalent throughout 1999 was showing signs of subsiding.
For the full year to 31 January, sales increased 47.4 per cent to $17bn, compared with $11.5bn in 1998. Profit for the year was $127.5m, up from $119.4m.
European sales grew 22 per cent when quoted in German marks in the fourth quarter to $2.2bn, with an operating profit of $26.1m. For the year, European sales were $7.5bn, achieving an operating profit of $95.2m.
Art Singleton, vice-president of finance, said: "Ingram Micro had sales of $7.3bn in Europe and operating profit of $21.5m. While our sales are the same in Europe, operating profit is about four times the size of theirs.
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