$TECD (Tech Data Corp.)

$TECD {{ '2016-05-26T18:10:10+0000' | timeago}} • Webcast

$TECD said that the US and Canada delivered strong results in 1Q17. Sales in Canada were fueled by strong sales to the federal government. Two of the company's vendor partners represented 10% or more of its sales in 1Q17; $AAPL represented 17% and $HPQ was 14%.

$TECD {{ '2017-10-16T13:00:46+0000' | timeago}} • Announcement

$TECD announced an agreement with iDevices to distribute its line of Smart Home Technology products to retailers and solution providers. iDevices manufactures a premium line of connected power, lighting and climate control solutions for homeowners, professional installers and builders.

$TECD {{ '2017-09-26T18:52:04+0000' | timeago}} • Announcement

$TECD has added FlexPod SF, a converged infrastructure offering that features NetApp SolidFire all-flash storage array technology, to its FlexPod Modular Integration (FMI) program. FMI is a sales velocity program that helps partners expedite the sales of FlexPod solutions by managing the entire process from registration to shipment.

$TECD {{ '2017-08-31T16:29:43+0000' | timeago}} • Announcement

$TECD announced an agreement with Propel, a developer of consumer drones and remote-controlled helicopters, to distribute their Limited Collector's Edition Star Wars battle drones. This is in conjunction with $DIS and Lucasfilm's Force Friday II global fan event on Sept. 1, 2017 as a prelude to premiere of Star Wars: The Last Jedi on Dec. 15, 2017.

$TECD {{ '2017-07-10T17:40:40+0000' | timeago}} • Announcement

$TECD will offer a complete solution that integrates the new Microsoft 365 Business with its own Small Business Cloud Server offering, which runs on Microsoft Azure, to provide small and medium-sized businesses (SMBs) with an ideal platform for digital transformation.

$TECD {{ '2017-06-23T12:19:21+0000' | timeago}} • Announcement

$TECD announced the combined leadership of its Canadian operations following the acquisition of Avnet's Technology Solutions business. Ed Galasso has been promoted to VP and general manager, Sales and Product Marketing, for $TECD's Commercial and Retail business in Canada. Brian Aebig has been appointed VP, Sales for Enterprise Solutions business.

$TECD {{ '2017-06-15T19:32:49+0000' | timeago}} • Announcement

$TECD unveiled its new Agent365 service, designed to provide resellers a program to capitalize on cloud services. Agent365 delivers to resellers the operational systems and resources, including billing, provisioning, management and helpdesk, to support Microsoft Office 365 and other Microsoft cloud applications.

$TECD {{ '2017-06-01T17:21:22+0000' | timeago}} • Webcast

$TECD stated that Americas delivered strong 1Q18 results, as sales increased 45% to $3.5Bil. Technology Solutions contributed approx $1Bil to the topline. Sales rose 12% to $4Bil in Europe, while in the Asia-Pacific region, sales were $188MM.

$TECD {{ '2017-06-01T10:50:55+0000' | timeago}} • Announcement

$TECD expects 2Q18 worldwide net sales of $8.55-8.80Bil and non-GAAP EPS of $1.95-2.08. This forecast assumes stock compensation expense of about $7MM and interest expense of about $26MM. This estimate also assumes weighted average diluted shares outstanding of 38.5MM and effective tax rate of 31-33%.

$TECD {{ '2017-06-01T10:48:47+0000' | timeago}} • Announcement

$TECD reported a decline in 1Q18 earnings due to higher interest expenses. Net income fell to $30.65MM or $0.82 per share from $33.37MM or $0.94 per share last year. Net sales grew to $7.66Bil from $5.96Bil, on sales attributed to Technology Solutions business acquired from $AVT. Non-GAAP EPS increased to $1.87 from $1.05.

$TECD {{ '2017-04-19T13:21:45+0000' | timeago}} • Announcement

$TECD has nominated Karen Dahut for appointment to its BoD. Dahut will be included in Tech Data's proxy statement for election by its shareholders to serve as an independent director. Dahut serves as EVP at $BAH, where she leads the firm's Civil Commercial Group.

$TECD {{ '2017-04-12T15:22:25+0000' | timeago}} • Announcement

$TECD said its Technology Solutions business is adding software networking solutions from $BRCD to its award-winning Avnet Cloud Marketplace. As one of the world's largest $BRCD distributors, $TECD is the first technology distributor to add $BRCD software offerings to its cloud marketplace.

$TECD {{ '2017-04-11T15:50:52+0000' | timeago}} • Announcement

$TECD is expanding its SmartForce Internet of Things portfolio, offered by its Smart IoT Solutions practice, through a strategic partnership with Propel GPS, a Virginia-based solution provider.

$TECD {{ '2017-03-30T12:57:09+0000' | timeago}} • Announcement

$TECD Chairman Steven Raymund will not stand for reelection as a board member and will retire as chairman of the board at the end of his term, effective June 7, 2017. CEO Robert Dutkowsky will succeed Raymund, and Charles Adair will continue as lead independent director.

$TECD {{ '2017-03-08T12:03:36+0000' | timeago}} • Announcement

$TECD expects the Technology Solutions transaction to be significantly accretive to non-GAAP EPS in the first year after closing. $TECD also expects to realize $50MM of cost savings in the first 12 months after closing, and $100MM during the second full year. Also, $TECD expects to incur one-time costs to achieve the cost savings of about $150MM.

$TECD {{ '2017-03-08T12:03:15+0000' | timeago}} • Announcement

$TECD reported a 18% drop in 4Q17 earnings due to last year's gains from LCD settlement agreements, net of attorney fees and expenses. Net income fell to $78.8MM or $2.22 per share from $96.1MM or $2.72 per share last year. Net sales declined 1% to $7.43Bil. Non-GAAP EPS increased to $2.45 from $2.29.

$TECD {{ '2017-02-27T16:09:27+0000' | timeago}} • Announcement

$TECD completed its acquisition of the Technology Solutions business from $AVT. The total purchase price at close was about $2.6Bil. The transaction is expected to be significantly accretive to $TECD's non-GAAP EPS in the first full year. $TECD expects to achieve annual cost savings of about $100MM within 24 months.

$TECD {{ '2017-02-17T18:26:37+0000' | timeago}} • Announcement

$TECD announced its current expectations concerning the closing of its acquisition of $AVT's Technology Solutions business. Subject to receipt of final regulatory approvals, particularly the European Commission, the acquisition could close by the end of February 2017.

$TECD {{ '2017-01-25T12:15:29+0000' | timeago}} • Announcement

$TECD announced pricing of its public offering of $500MM of its 3.700% Senior Notes due 2022 and $500MM of its 4.950% Senior Notes due 2027. The offering is expected to close on or about Jan. 31, 2017. $TECD expects to receive net proceeds from this offering of about $990MM, after deducting underwriting discounts and estimated offering expenses.

$TECD {{ '2017-01-12T15:54:22+0000' | timeago}} • Announcement

$TECD announced an agreement with DataXoom to provide value-added mobile data services to its network of solution providers in the United States through the company's Client and Mobile Solutions division.

$TECD {{ '2016-11-30T14:35:49+0000' | timeago}} • Announcement

$TECD appointed Bridgette Heller to its BoD, effective immediately. Heller will serve as an independent director and will also serve as a member of the Audit Committee and Governance and Nominating Committee. Heller has served as EVP, Early Life Nutrition, and a member of the Executive Committee for Danone since July 2016.

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