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Clearwater's Tech Data To Buy Back Stock

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By RICHARD MULLINS | The Tampa Tribune

Published: September 6, 2007

Previous Coverage: Tech Data's Stock Vaults 7%

Clearwater computer distributor Tech Data Corp. is feeling healthy enough financially that it announced plans to buy back $100 million of the company's stock.

Robert Dutkowsky

The company didn't set a specific timeframe for the purchases, though Chief Executive Robert Dutkowsky said in a prepared statement that the move is "an ongoing testament to our confidence in Tech Data's financial strength, strategic direction and long-term growth opportunities."

Tech Data's finances have improved in the past year, helping the company post larger revenue and profits in the cutthroat market of buying and distributing computer equipment. Tech Data employs about 8,100 people worldwide, including about 1,700 in the Tampa Bay area. Stock in the company was relatively flat in morning trading, up 13 cents per share, to $39.10.

Reporter Richard Mullins can be reached at (813) 259-7919 or rmullins@tampatrib.com.

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