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Tech Data beats 4Q profit forecasts

CLEARWATER, Fla. (AP) _ Tech Data Corp. (TECD) on Wednesday reported fiscal fourth-quarter earnings of $78.8 million.

On a per-share basis, the Clearwater, Florida-based company said it had net income of $2.22. Earnings, adjusted for one-time gains and costs, came to $2.45 per share.

The results beat Wall Street expectations. The...