SYNNEX Corp. (NYSE: SNX) reported Q3 EPS of $2.57, $0.11 better than the analyst estimate of $2.46. Revenue for the quarter came in at $4.91 billion versus the consensus estimate of $4.88 billion.

"We saw continued momentum in both of our business segments that resulted in record third quarter performance,\" said Dennis Polk, President and Chief Executive Officer, SYNNEX Corporation. "Our focus on profitable growth and leveraging the strategic investments we've made in our business drove solid margin and earnings expansion."

"We are also excited about the expected close of the Convergys acquisition on October 5th. The talented and dedicated global associates of Convergys will significantly amplify Concentrix and our value proposition," Mr. Polk added. "We look forward to the growth and value that the combination of these two companies will create, and it will enhance our leadership position as a premier global customer engagement services company."

Third Quarter Fiscal 2018 Highlights:

• Technology Solutions: Revenue was $4.4 billion, up 17% from the prior fiscal year third quarter. Operating income was $105 million, or 2.4% of segment revenue, compared to $100 million, or 2.6% of segment revenue, in the prior fiscal year third quarter. Non-GAAPoperating income was $120 million, or 2.7% of segment revenue, in the fiscal third quarter of 2018, compared to $101 million, or 2.7% of segment revenue, in the prior fiscal year third quarter.
• Concentrix: Revenue was $492 million, down 1% from the prior fiscal year third quarter. Operating income was $12 million, or 2.5% of segment revenue, compared to $22 million, or 4.5% of segment revenue in the prior fiscal year third quarter. Non-GAAP operating income was $43 million, or 8.7% of segment revenue, in the fiscal third quarter of 2018, compared to $39 million, or 7.8% of segment revenue, in the prior fiscal year third quarter.
• The trailing fiscal four quarters Return on Invested Capital (\"ROIC\") was 8.5% compared to 10.8% in the prior fiscal year third quarter. The adjusted trailing fiscal four quarters ROIC was 10.9%.
• The debt to capitalization ratio was 43.9%, up from 32.1% in the prior fiscal year third quarter, primarily as a result of the Westcon-Comstor Americas acquisition in the fiscal fourth quarter of 2017.
• Depreciation and amortization were $23 million and $26 million, respectively.
• Cash used in operations was approximately $103 million during the quarter.

GUIDANCE:

SYNNEX Corp. sees Q4 2018 EPS of $2.90-$3.10, versus the consensus of $3.07. SYNNEX Corp. sees Q4 2018 revenue of $5.2-5.4 billion, versus the consensus of $5.36 billion.

For earnings history and earnings-related data on SYNNEX Corp. (SNX) click here.