ScanSource Q4 Net Profit Falls

(RTTNews) - ScanSource, Inc. (SCSC) reported net income for the fourth quarter of $16.4 million or $0.57 per share, compared to $27.1 million or $0.94 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $19.0 million or $0.66 per share, compared to $18.2 million or $0.63 per share in the prior year quarter.

Net sales for the fourth quarter rose 13% to $856.7 million from $758.1 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.58 per share on revenue of $822.08 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts net sales of $820 million to $880 million and adjusted earnings of $0.50 to $0.58 per share. Analysts currently expect the company to earn $0.73 per share on revenue of $876.69 million for the first quarter.