Tech Data To Buy Back Shares
We at RCPU have been extremely remiss about running reader e-mail, which we've let back up to the point at which a bunch of really good e-mails are now too old to run. We're sorry about that, but we're going to get back to putting your thoughts in this space soon. So, if you have anything you'd like to send our way, shoot it to the usual address: [email protected].
To be perfectly honest, we're getting into a slow time of year for news, and your editor is still busy with tasks outside of RCPU. So, for today, we're going to go with a pure channel play (which we really should do more often) and tell you that mega-distributor Tech Data is buying back $100 million worth of stock.
The company seems to be in pretty good financial shape overall, which has to be a good sign for the channel in general. Its stock, as of Thursday close, is trading pretty close to a 52-week high, and its third-quarter numbers, despite a dip in revenue year-over-year (which is pretty common these days), looked pretty solid to us. Take that for what it's worth, but any news that's even somewhat good for partners right now is certainly welcome.
Posted by Lee Pender on December 04, 2009