SYNNEX Corp. (NYSE: SNX) reported Q4 EPS of $4.26, $0.65 better than the analyst estimate of $3.61. Revenue for the quarter came in at $6.81 billion versus the consensus estimate of $5.99 billion.

Fourth Quarter Fiscal 2019 Highlights:

• Technology Solutions: Revenue was $5.4 billion, up 17.4% from the prior fiscal year fourth quarter. Operating income was $167 million, or 3.1% of segment revenue, compared to $126 million, or 2.7% of segment revenue, in the prior fiscal year fourth quarter. Non-GAAP operating income was $178 million, or 3.3% of segment revenue, compared to $139 million, or 3.0% of segment revenue, in the prior fiscal year fourth quarter.
• Concentrix: Revenue was $1.2 billion, up 24.7% from the prior fiscal year fourth quarter primarily due to the impact of the Convergys acquisition on October 5, 2018. Operating income was $101 million, or 8.4% of segment revenue, compared to $75 million, or 7.7% of segment revenue in the prior fiscal year fourth quarter. Non-GAAP operating income was $161 million, or 13.3% of segment revenue, compared to $129 million, or 13.2% of segment revenue, in the prior fiscal year fourth quarter.
• The trailing fiscal four quarters Return on Invested Capital ("ROIC") was 8.8% compared to 7.9% in the prior fiscal year fourth quarter. The adjusted trailing fiscal four quarters ROIC was 11.0%.

"Our record financial performance in Q4, driven by strong contributions from our Technology Solutions and Concentrix segments, is a very satisfying conclusion to an exceptional year," said Dennis Polk, SYNNEX President and CEO. "Fiscal 2019 was a defining year for SYNNEX, as we invested in, integrated and operated both businesses at scale, while generating solid returns from each segment. Fiscal 2020 will be another defining period as we plan to separate SYNNEX and Concentrix to further enable each entity to achieve its growth potential."

GUIDANCE:

SYNNEX Corp. sees Q1 2020 EPS of $3.02-$3.22, versus the consensus of $2.94. SYNNEX Corp. sees Q1 2020 revenue of $5.24-5.54 billion, versus the consensus of $5.37 billion.

• Revenue is expected to be in the range of $5.240 billion to $5.540 billion.
• Net income is expected to be in the range of $114.7 million to $124.6 million and on a non-GAAP basis, net income is expected to be in the range of $157.3 million to $167.2 million.
• Diluted earnings per share is expected to be in the range of $2.21 to $2.40 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $3.03 to $3.22, based on estimated outstanding diluted weighted average shares of 51.3 million.
• After-tax amortization of intangibles is expected to be $36.2 million, or $0.70 per share.
• After-tax acquisition-related and integration expense is expected to be $6.4 million, or $0.12 per share.

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