SYNNEX Q1 Profit Rises; Issues Q2 Outlook - Quick Facts

(RTTNews) - SYNNEX Corp. (SNX) Thursday reported first-quarter net income attributable to the company of $38.4 million, or $1.01 per share, compared to $33.4 million, or $0.88 per share last year.

Adjusted net income for the latest first quarter was $47.7 million or $1.25 per share, up from $34.6 million or $0.91 per share in the comparable quarter last year.

On average, eight analysts polled by Thomson Reuters expected the company to earn $0.94 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues rose to $3.03 billion from $2.46 billion last year, while seven analysts expected revenues of $2.77 billion.

Looking ahead to the second-quarter, the company has forecast adjusted earnings in the range of $1.34 to $1.38 per share, with revenues ranging between $3.1 billion and $3.2 billion. Analysts currently expect the company to report second-quarter earnings of $1.14 per share on revenues of $3.01 billion.