ScanSource (SCSC) Tops Q3 EPS by 18c

ScanSource (NASDAQ: SCSC) reported Q3 EPS of $0.71, $0.18 better than the analyst estimate of $0.53. Revenue for the quarter came in at $729.9 million versus the consensus estimate of $729 million.

Third Quarter Summary:

• Net sales: $729.9 million, down 2% year-over-year, or flat year-over-year for organic growth
• Gross profit: $88.1 million, up 4% year-over-year
• GAAP operating income of $19.4 million, up 87% year-over-year, for a 2.66% operating income margin
• Non-GAAP operating income of $25.1 million, up 70% year-over-year, for a 3.45% non-GAAP operating income margin
• Net income from continuing operations of $13.8 million
• GAAP diluted EPS of $0.54 per share; non-GAAP diluted EPS of $0.71 per share
• Return on invested capital increased to 13.6% for the quarter

"We are very pleased with the excellent execution from ScanSource employees worldwide," said Mike Baur, Chairman and CEO, ScanSource, Inc. "We are focused on driving gross profit growth, gaining operating leverage on our SG&A, and shifting to more recurring revenue. We are committed to helping our channel partners accelerate their digital transformation."

For earnings history and earnings-related data on ScanSource (SCSC) click here.

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