Tech Data 2013 Annual Report Download - page 87
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Table of Contents
79
Quarter ended
AS REPORTED April 30
July 31
October 31
January 31
(1)
(In thousands, except per share amounts)
Fiscal year 2013:
Net sales
$
5,895,561
$
5,961,500
$
6,040,556
$
7,463,400
Cost of products sold
5,575,344
5,660,256
5,732,295
7,083,520
Gross profit
320,217
301,244
308,261
379,880
Operating expenses:
Selling, general and administrative expense
239,324
241,988
238,715
286,350
Value added tax assessment
0
0
0
0
239,324
241,988
238,715
286,350
Operating income
80,893
59,256
69,546
93,530
Interest expense
3,069
3,422
4,359
7,691
Other expense, net
1,344
1,178
2,044
2,503
Income before income taxes
76,480
54,656
63,143
83,336
Provision for income taxes
22,954
16,370
16,122
794
Consolidated net income
53,526
38,286
47,021
82,542
Net income attributable to noncontrolling interest
(1,834
)
(3,828
)
(1,123
)
0
Net income attributable to shareholders of
Tech Data Corporation
$
51,692
$
34,458
$
45,898
$
82,542
Net income per share attributable to shareholders of Tech Data
Corporation:
Basic
$
1.26
$
0.89
$
1.22
$
2.18
Diluted
$
1.24
$
0.88
$
1.21
$
2.17
Quarter ended
ADJUSTMENTS
(2)
April 30
July 31
October 31
January 31
(3)
(In thousands, except per share amounts)
Fiscal year 2013:
Net sales
$
14,502
$
6,919
$
(3,081
)
$
(21,028
)
Cost of products sold
11,311
5,570
(899
)
(12,122
)
Gross profit
3,191
1,349
(2,182
)
(8,906
)
Operating expenses:
Selling, general and administrative expense
1,626
294
3,769
(2,194
)
Value added tax assessment
0
0
0
29,462
1,626
294
3,769
27,268
Operating income
1,565
1,055
(5,951
)
(36,174
)
Interest expense
0
0
0
11,585
Other expense, net
(1,109
)
634
(974
)
(1,492
)
Income before income taxes
2,674
421
(4,977
)
(46,267
)
Provision for income taxes
188
180
(2,016
)
(8,166
)
Consolidated net income
2,486
241
(2,961
)
(38,101
)
Net income attributable to noncontrolling interest
0
0
0
0
Net income attributable to shareholders of
Tech Data Corporation
$
2,486
$
241
$
(2,961
)
$
(38,101
)
Net income per share attributable to shareholders of Tech Data
Corporation:
Basic
$
0.06
$
0.00
$
(0.08
)
$
(1.00
)
Diluted
$
0.06
$
0.01
$
(0.08
)
$
(1.00
)
(1) As previously reported in Current Report on Form 8-
K filed on March 4, 2013.
(2) The adjustments are to correct errors previously discussed in Note 2 -
Restatement of Consolidated Financial Statements.
(3) Adjustments to previously reported amounts in Current Report on Form 8-K filed March 4, 2013 (see Note 2 -
Restatement of Consolidated Financial Statements).