GREENVILLE, S.C.--(BUSINESS WIRE)--ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today announced financial results for the third quarter ended March 31, 2018.
“Our teams did a great job this quarter achieving 5% organic sales growth, while executing our strategic plan for growth.”
|Quarter ended March 31,|
|(in millions, except per share data)|
|Non-GAAP operating income(1)||27.8||26.2||6||%|
|GAAP net income||10.6||12.4||(14||)%|
|Non-GAAP net income(1)||17.5||16.4||7||%|
|GAAP diluted EPS||$||0.42||$||0.49||(14||)%|
|Non-GAAP diluted EPS(1)||$||0.68||$||0.65||5||%|
|(1) Non-GAAP results exclude amortization of intangible assets related to acquisitions and change in fair value of contingent consideration. A reconciliation of non-GAAP financial information to GAAP financial information is presented in the Supplementary Information (Unaudited) below.|
“ScanSource delivered another quarter of very good financial results, with 10% net sales growth for both of our segments and 12% gross profit growth,” said Mike Baur, CEO, ScanSource, Inc. “Our teams did a great job this quarter achieving 5% organic sales growth, while executing our strategic plan for growth.”
For the third quarter of fiscal year 2018, net sales increased 10% to $895.6 million, driven by sales growth in both Worldwide segments. Organic sales growth, which excludes the impact from foreign currency translation and a recent acquisition, was 5.4%. Operating income decreased to $17.9 million from increased expense for the change in fair value of contingent consideration. Non-GAAP operating income increased 6% to $27.8 million, primarily from higher sales volume, higher gross margin and the addition of the POS Portal acquisition.
On a GAAP basis, net income for the quarter totaled $10.6 million, or $0.42 per diluted share, compared with net income of $12.4 million, or $0.49 per diluted share, for the prior-year quarter. Non-GAAP net income for the third quarter of fiscal year 2018 increased to $17.5 million, or $0.68 per diluted share.
Forecast for Next Quarter
For the fourth quarter of fiscal year 2018, ScanSource expects... click for the full release
The Bar Code News relies on sponsors to keep this site running and free. You can help us by letting companies know when you've seen them here.
Thank you for visiting Barcode.com.
- France Automatic Data Capture Market 2016-2018 & 2025:Expected to Reach $961 Million
- Zebra Announces First Quarter 2018 Results
- PINC selected by Inbound Logistics to its 2018 list of Top Logistics Technology providers
- OtterBox, Mobelisk Partner to Add Sensors, Barcode Scanning
- ASAP Systems Announces the Integration of RFID in BarCloud
- FACTON COO Mike Betz to Speak on Costing In Supply Chains
- Tryon Solutions Launches WMS Fixed-Fee Performance Testing
- Neology RFID Patent Claim Invalidated
- GS1 Connect To Feature More Than 90 Presenters
- Savi Receives Multi-Million Dollar RFID Technology Order For Last Tactical Mile Visibility
Get The Bar Code News once a month, once a week or once a day. Subscribe here.
Follow us on Twitter: https://twitter.com/TheBarCodeNews
Follow us on Facebook: https://facebook.com/TheBarCodeNews