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TECH DATA REPORTS RECORD RESULTS; INCREASES CREDIT FACILITIES

 CLEARWATER, Fla., Aug. 19 /PRNewswire/ -- Tech Data Corporation (NASDAQ: TECD) announced today record sales and earnings for the second quarter ended July 31, 1993. Net income increased 54 percent to $7.0 million, or $.38 per share, compared with $4.5 million, or $.29 per share, in the second quarter last year. Earnings per share reflects the dilutive effect of the company's February 1993 public offering of 2.6 million shares of common stock. Second quarter sales increased 55 percent to $352 million, compared with $227.8 million last year.
 Net income for the first six months of fiscal 1994 increased 59 percent to $13.4 million, or $.74 per share, up from $8.5 million, or $.54 per share, in the same period last year. Sales for the six-month period this year also grew 59 percent to $684.4 million compared with $429.6 million in the same period last year.
 Steven A. Raymund, chairman and chief executive officer, said, "Sales during the quarter continued to be driven by better availability of computer systems from AST, Apple, Compaq, IBM, Toshiba and other vendors. In addition, we added several significant vendors during the quarter, such as, Compulink, Digital Equipment, Fractal Design, Global Village and Rabbit Software, increasing our vendor count to 310.
 "During the quarter gross selling margins stabilized, which allowed us to achieve our 3.5 percent operating profit margin goal. Selling, general and administrative expenses as a percentage of sales were 5.4 percent in the current year quarter, compared with 6.1 percent in the prior year," he said.
 "In July we increased our revolving credit facility by $50 million, giving the company a total borrowing capability of $155 million," commented Jeffery P. Howells, senior vice president and chief financial officer. "The increased credit line, provided by our domestic bank group on substantially the same terms and conditions as our existing credit facility, will allow us to continue to grow the business," he added.
 Tech Data Corporation is a leading distributor of personal computer products. The company offers comprehensive product lines in software, networking and communications, mass storage, peripherals and computer systems. In addition to a wide range of products, Tech Data provides extensive pre-sale and post-sale training, service, and support. Tech Data serves more than 35,000 value-added resellers and retail dealers from 11 distribution centers throughout the United States and Canada.
 TECH DATA CORPORATION AND SUBSIDIARY
 CONSOLIDATED STATEMENT OF INCOME
 (in thousands, except per share amounts)
 Three months ended Six months ended
 July 31, July 31,
 1993 1992 1993 1992
 Net sales $352,020 $227,771 $684,357 $429,606
 Cost and expenses:
 Cost of products sold 320,661 205,557 623,637 387,046
 Selling, general and
 administrative expenses 18,903 13,879 36,622 27,069
 Total 339,564 219,436 660,259 414,115
 Operating profit 12,456 8,335 24,098 15,491
 Interest expense 1,141 979 2,145 1,706
 Income before income taxes 11,315 7,356 21,953 13,785
 Provision for income taxes 4,333 2,821 8,522 5,335
 Net income $ 6,982 $ 4,535 $ 13,431 $ 8,450
 Net income per
 common share $ .38 $ .29 $ .74 $ .54
 Weighted average common
 shares outstanding 18,399 15,666 18,090 15,674
 CONSOLIDATED BALANCE SHEET
 (in thousands)
 July 31, Jan. 31,
 1993 1993
 ASSETS
 Current assets:
 Cash $ 378 $ 391
 Accounts receivable, net 151,609 121,279
 Inventories 183,936 158,597
 Prepaid expenses 17,843 11,277
 Total current assets 353,766 291,544
 Property and equipment, net 38,742 32,760
 Excess of cost over
 acquired net assets, net 944 959
 Other assets 1,427 1,622
 Total $ 394,879 $ 326,885
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Revolving credit loan $ 87,293 $ 89,198
 Current portion of
 long-term debt 167 164
 Accounts payable 96,722 104,632
 Accrued expenses 5,408 8,206
 Total current liabilities 189,590 202,200
 Long-term debt 9,553 9,638
 Total 199,143 211,838
 Total shareholders' equity 195,736 115,047
 Total liabilities and
 shareholders' equity $ 394,879 $ 326,885
 -0- 8/19/93
 /CONTACT: Jeffery P. Howells, senior vice president and chief financial officer, 813-538-7825, or Arthur W. Singleton, treasurer and secretary, 813-538-7083, both of Tech Data Corporation/
 (TECD)


CO: Tech Data Corporation ST: Florida IN: CPR SU: ERN

RC-AW -- FL004 -- 4478 08/19/93 16:25 EDT
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Date:Aug 19, 1993
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