Tech Data Q3 net sales were $6.4bn, a decrease of 5% from $6.8bn in the prior-year quarter. On a constant currency basis, and excluding from the prior period net sales generated in Chile, Peru and Uruguay due to the previously announced exit from those countries, consolidated net sales increased approximately 5%.
In Europe, net sales were $3.9 billion (60% of worldwide net sales), a decrease of 6% from the prior-year quarter. On a constant currency basis, net sales grew approximately 6%. Gross profit was $314.8m, or 4.90% of net sales, compared to $335.0m, or 4.95% of net sales in the prior-year quarter. On a constant currency basis, gross profit improved approximately $9 million, or 3% year-over-year.
“Continuing our positive first half momentum, I am pleased to report that Tech Data delivered another solid quarter in Q3 of fiscal 2016, said Robert M. Dutkowsky, chief executive officer. “On a constant currency basis, we posted good top line growth, improved non-GAAP operating income by nearly twice the rate of sales growth, and grew non-GAAP earnings per share by 19% to a record Q3 level. Additionally, for the first nine months of the fiscal year, we grew non-GAAP earnings per share by 31% on a constant currency basis, generated $221 million of cash from operations, and completed $147 million of share repurchases. Tech Data’s performance through the first nine months of the fiscal year is a testament to our company’s strengths, namely, our diversified customer and product portfolios, strong vendor relationships, state-of-the-art global IT platform, and our teams’ ability to effectively respond to the demands of the ever-changing IT market.”