Europe shines in upbeat quarter for Tech Data

European sales shone for Computer 2000 parent Tech Data in the first quarter of its fiscal 2012, which closed on April 30.

With regional revenues up 18 per cent year-on-year (14 per cent at Euro rates) to $3.7bn (£2.29bn), the region easily outdid the Americas, where sales grew just 6 per cent to $2.6bn.

Net sales of $16.3bn were up 13 per cent, while net profit was up 6% to $48.7m. However, income per share missed Wall Street's expectations by two cents.

"Our first quarter results reflect a Tech Data that is fit, focused and flexible - able to execute well for our vendor partners, customers and investors in a variety of market environments," said Tech Data CEO Robert Dutkowsky.

"Our worldwide team's focus on responsible growth and gross margin management, combined with stronger foreign currencies, resulted in sales and earnings growth that was in line with our expectations," he added.