SYNNEX Corp. (NYSE: SNX) reported Q1 EPS of $2.84, $0.10 better than the analyst estimate of $2.74. Revenue for the quarter came in at $5.25 billion versus the consensus estimate of $5.29 billion.

"We are off to a great start for fiscal 2019. Our results reflect our recent investments producing returns as well as our core businesses continuing to operate very well," said Dennis Polk, SYNNEX President and CEO. "Most significant was the performance of our Concentrix business. In the first full quarter since our Convergys acquisition, the team delivered solid financial results while managing integration and providing outstanding customer service."

First Quarter Fiscal 2019 Highlights:

• Technology Solutions: Revenue was $4.1 billion, up 2.3% from the prior fiscal year first quarter. Operating income was $101 million, or 2.5% of segment revenue, compared to $82 million, or 2.1% of segment revenue, in the prior fiscal year first quarter. Non-GAAPoperating income was $113 million, or 2.8% of segment revenue, compared to $96 million, or 2.4% of segment revenue, in the prior fiscal year first quarter.
• Concentrix: Revenue was $1.2 billion, up 131.1% from the prior fiscal year first quarter as a result of the Convergys acquisition on October 5, 2018. Operating income was $61 million, or 5.2% of segment revenue, compared to $30 million, or 5.8% of segment revenue in the prior fiscal year first quarter. Non-GAAP operating income was $130 million, or 11.1% of segment revenue, compared to $44 million, or 8.6% of segment revenue, in the prior fiscal year first quarter.
• The trailing fiscal four quarters Return on Invested Capital ("ROIC") was 8.7% compared to 8.5% in the prior fiscal year first quarter. The adjusted trailing fiscal four quarters ROIC was 10.9%.

GUIDANCE:

SYNNEX Corp. sees Q2 2019 EPS of $2.62-$2.78, versus the consensus of $2.69. SYNNEX Corp. sees Q2 2019 revenue of $5.4-5.7 billion, versus the consensus of $5.5 billion.

• Net income is expected to be in the range of $85.3 million to $93.9 million and on a non-GAAP basis, net income is expected to be in the range of $134.9 million to $143.5 million.
• Diluted earnings per share is expected to be in the range of $1.65 to $1.82 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.62 to $2.78, based on estimated outstanding diluted weighted average shares of 51.1 million.
• After-tax amortization of intangibles is expected to be $38.2 million, or $0.74 per share.
• After-tax acquisition-related and integration expense is expected to be $11.4 million, or $0.22 per share.

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