Tech Data (TECD $48.96 +1.50) reported first quarter earnings of $1.24 per share, $0.07 better than the Capital IQ Consensus Estimate of $1.17. Revenues fell 6.9% year over year to $5.9 billion versus the $6.2 billion consensus. For the second quarter of fiscal year 2013, the company expects relatively consistent sales on a sequential basis in both regions, in local currencies. The anticipated decline in sales on a year-over-year basis is attributable to the fiscal 2013 change in presentation of vendor warranty services and certain fulfillment contracts, the exit of Brazil and Colombia at the end of fiscal 2012, and general market conditions, as well the company's selective approach to capturing profitable market share.






