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Dicker Data's revenue beats estimate, nudges $1.5B

Dicker Data's revenue beats estimate, nudges $1.5B

Sees 14.4 per cent increase and revenue of $1.5 billion

David Dicker (Dicker Data)

David Dicker (Dicker Data)

Credit: Dicker Data

Dicker Data has announced a higher than expected revenue results for the financial year ended 31 December 2018.

The unaudited results show a 14.4 per cent increase in the distributor's revenue posting $1.49 billion for 2018.

The publicly-listed distributor had previously forecast revenue of $1.29 billion, or a 10 per cent increase over the previous year's result.

In 2017, Dicker Data posted just over $1.3 billion, a 10.2 per cent increase compared to its tally the year prior, according to the distributor’s preliminary full-year financials, released on 28 February.

The company expects profit before tax to be $46 million, a 15 per cent increase compared to the previous year, which also exceeded the company’s initial guidance of an eight per cent increase.

The Sydney-based company attributes the better than expected results to the realisation of full value of new vendors introduced in 2017 and 2018, as well as strong performance with existing vendors.

Dicker Data signed 12 new vendors in 2017, including BenQ, Symantec and Trend Micro, alongside Dell EMC, and Seagate in New Zealand.

Also in New Zealand, Dicker Data commenced distribution of Hewlett Packard Enterprise offerings, spanning Aruba, data centre networking and Nimble Storage ranges, effective November 2017.

As reported by Reseller News, Dicker Data previously distributed Nimble Storage in New Zealand, prior to the vendor's acquisition by HPE in March 2017.

Meanwhile in 2018, the company signed eight new deals including the extension of the Dell EMC deal into New Zealand and a strategic alliance with NBN Co in Australia.

In New Zealand, the revenue estimate as of March 2018 stands at $93.5 million, or 29 per cent less than the previous year.

At this stage, financials are still subject to an audit, with the full results expected to be announced on 28 February.

In its half year results announced in August, Dicker Data posted a net profit after tax (NPAT) of $15.7 million, a 21.9 per cent increase compared to the previous corresponding period.

Revenue for the six months to 30 June 2018 was $717.6 million, up by $85.1 million or 13.5 per cent on the previous period.

In total, Dicker Data welcomed 18 new vendors between September 2017 and August 2018 including Citrix, Commvaul and Kyocera - collectively these contributed an increase of $35.8 million to revenue on a year-on-year basis during the first half of 2018.

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