GREENVILLE, S.C.--(BUSINESS WIRE)--ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today announced financial results for the fourth quarter ended June 30, 2018.
“We want to congratulate our teams worldwide on achieving these excellent results. Investments we are making in our business are positioning us to accelerate our profitable growth.”
|Quarter ended June 30,||Year ended June 30,|
|(in millions, except per share data)||(in millions, except per share data)|
|Non-GAAP operating income(1)||30.8||27.8||11||%||124.0||110.2||12||%|
|GAAP net income||10.4||19.0||(45||)%||33.2||69.2||(52||)%|
|Non-GAAP net income(1)||19.9||17.3||15||%||79.8||70.3||14||%|
|GAAP diluted EPS||$||0.40||$||0.74||(46||)%||$||1.29||$||2.71||(52||)%|
|Non-GAAP diluted EPS(1)||$||0.77||$||0.68||13||%||$||3.11||$||2.75||13||%|
|(1) Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration and other non-GAAP items. A reconciliation of non-GAAP financial information to GAAP financial information is presented in the Supplementary Information (Unaudited) below.|
“We delivered outstanding fourth quarter sales and gross profit growth, capping a year of progress in executing our growth initiatives," said Mike Baur, CEO, ScanSource, Inc. "We want to congratulate our teams worldwide on achieving these excellent results. Investments we are making in our business are positioning us to accelerate our profitable growth."
For the fourth quarter of fiscal year 2018, net sales increased 8% to $993.9 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 5.0%. Operating income decreased to $19.8 million largely as a result of increased expense for the change in fair value of the contingent consideration. Non-GAAP operating income increased 11% to $30.8 million, primarily from higher net sales and the addition of the POS Portal acquisition.
On a GAAP basis, net income for the quarter totaled $10.4 million, or $0.40 per diluted share, compared with (click here to see the full release)
-- - Nobody was ever fired for having too much information, so don't risk missing a key piece of competitive intelliigence. Sign up for a subscription on the left side menu. We don't spam, ever. Your choice of daily, weekly or once a month emails. Or, use the SEARCH feature on the left side menu to keep track of news about your competitors.
- Alien to Speak on Implementing Logistics Labeling and Tracking Technologies at #Labelexpo Americas 2018
- Omron Announces Suite of Traceability Products to Extend Automation Portfolio
- Keeping Cherries Fresh On Their Way To China Required Supply Chain Innovation
- Digital Drivers License Getting Upgrades
- New Report Offers Order Management System as a Solution to Solve the Great Digital Divide Plaguing Retailers
- Infogain Announces Strategic Alliance with Jesta I.S.
- Driver Vehicle Inspection Report (DVIR) System on Apple iOS Platform Keeps Fleets Safe, Operational and Compliant
- TEKLYNX International Improves GHS-Compliant Labeling Efficiency and Accuracy for Shepherd Material Science
- Seagull Scientific Names Vice President of Sales
- Zebra Appoints Cristen Kogl As Senior VP, General Counsel and Corporate Secretary
- Anderson & Vreeland to Highlight Key Technologies at Labelexpo Americas
- Oregon Dispensaries Get Custom Cannabis Enterprise Resource Planning (ERP) Experience
- Tyson Foods Selects FoodLogiQ to Connect Supply Chain