Tech Data announced FY17 Q2 result with net sales of $8.8 billion with net income (Non GAAP) of $66.7 million, resulting in a negligible net margin of 0.01%. However, net sales increased by a significant 40% on a yearly basis while the net income increased by 33%.
The increase in net sales was primarily due to the addition of the Technology Solutions business acquired from Avnet, Inc. in Feb. 2017. The gross profit for the quarter was $515.6 million, an increase of 63% on yearly basis.The increase in gross profit and gross margin percentage was also primarily attributable to the addition of Technology Solutions.
For FY17 Q3, the company anticipates net sales to be in the range of $9.0 billion to $9.35 billion.
