Distribution giant Tech Data brushed away concerns of post-millennium blues in the IT industry by reporting increased turnover and profit for its first full quarter of 2000.
The distributor, which owns European wholesaler Computer 2000, reported profits of $37.2m (£24.7m) in the three months to April 30, compared with $28m during the same period a year ago. Rival Ingram Micro also posted strong results in the year's first quarter, with profit of $24.7m excluding gains.
Tech Data's turnover for the quarter was $4.9bn, a 27 per cent rise on $3.8bn during the corresponding period last year.
First-quarter sales grew by 48 per cent in the US and by 19 per cent in Europe on a local-currency basis. Sales in other regions increased by 82 per cent.
Systems and peripherals sales both grew by 35 per cent, and networking business increased by 17 per cent. Software sales were unchanged, accounting for about 11 per cent of total sales. Peripherals business represented 46 per cent of total sales, systems represented 29 per cent and networking products represented 14 per cent.
Steve Raymund, Tech Data's chief executive, said he was delighted with the figures which pointed to "substantial market shares gains. We are right where we want to be: in the centre of the IT supply chain."
He added that interaction with vendors, partners and customers as well as enhanced internal asset management practices had been key to the improvements.
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