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ScanSource Logs Another Record Quarter, Spurred By Acquisitions
ScanSource roared to another record quarter for revenue, hitting the higher end of its expectations while shattering its earnings projections, the Greenville, S.C.-based distributor said Thursday.
The company recorded close to $871 million in net sales for the first quarter of its 2016 fiscal year, ended Sept. 30. That surpassed the record $857 million ScanSource brought in during the previous quarter. Its first-quarter projected revenue range was $820 million to $880 million.
Meanwhile, its earnings per share of 68 cents exceeded the company's projection of 50 to 58 cents, but was less than the 75 cents per share it returned in the first quarter of the last fiscal cycle. ScanSource reported first-quarter net income of $18.9 million, down from $21.6 million in the same quarter last year.
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