Tech Data sales eased slightly in Q1 to $4.7bn (Q1, 2000 $4.7bn. Net income was also down - to $31.8m (Q1. 2000: $37.2m). But the distie, the world's second biggest behind Ingram Micro, says it is pleased with the results - given "the current economic conditions".

Q1 sales were down 7 per cent in the US, and up 3 per cent in Europe (on a local-currency basis). Sales were up 3 per cent for the rest of the world. Tech Data had a good quarter on software, with sales up 18 per cent.

Systems and peripherals were down 18 per cent and 4 per cent, respectively. Networking sales were flat, accounting for 16 per cent of group turnover. Peripherals accounted for 45 per cent of sales, systems -25 per cent, 25% and software 14%. Ecommerce sales grew 11 per cent to $5bn on an annual run-rate. ®

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