Tech Data Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 31, 2017; Provides Earnings Guidance for the Third Quarter Ending October 31, 2017
For the six months, the company reported net sales of $16,546,754,000 compared to $12,317,101,000 a year ago. Operating income was $178,609,000 compared to $125,913,000 a year ago. Income before income taxes was $119,460,000 compared to $116,288,000 a year ago. Net income was $78,113,000 or $2.06 per diluted share compared to $79,767,000 or $2.26 per diluted share a year ago. Non-GAAP operating income was $251,053,000 compared to $135,655,000 a year ago. Non-GAAP results was $136,791,000 or $3.61 per diluted share compared to $87,335,000 or $2.47 per diluted share a year ago. Cash flow from operations was $371 million.
The company provided earnings guidance for the third quarter ending October 31, 2017. For the quarter, the company expects earnings per share diluted to be in the range of $0.80 to $1.00 and non-GAAP earnings per share diluted to be in the range of $1.84 to $2.04. The company anticipates worldwide net sales to be in the range of $9.0 billion to $9.35 billion. The company expects effective tax rate in the range of 30% to 32%.