Tech Data To Buy Back Shares
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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 at 11:56 AM