ScanSource, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2016; Provides Earnings Guidance for the First Quarter Ending September 30, 2016 and Tax Rate Guidance for the Fiscal Year 2017
August 29, 2016 at 04:11 pm
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ScanSource, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended June 30, 2016. For the quarter, the company reported that net sales of $877,473,000 compared to $856,685,000 a year ago. Operating income was $18,938,000 compared to $24,977,000 a year ago. Income before income taxes was $18,603,000 compared to $24,911,000 a year ago. Net income was $12,925,000 or $0.50 per basic and diluted share compared to $16,447,000 or $0.57 per diluted share a year ago. EBITDA was $23,627,000 compared to $29,367,000 a year ago. Adjusted EBITDA (numerator for roic) (non-GAAP) was $20,954,000 compared to $30,911,000 a year ago. On non-GAAP basis, operating income was $18,856,000, pre-tax income was $18,521,000, net income was $13,141,000 or diluted EPS was $0.51 compared to operating income of $28,612,000, pre-tax income of $28,546,000, net income of $18,990,000 or diluted EPS of $0.66 for the same period a year ago.
For the year, the company reported that net sales were $3,540,226,000 compared to $3,218,626,000 a year ago. Operating income was $96,877,000 compared to $101,441,000 a year ago. Income before income taxes was $96,010,000 compared to $99,906,000 a year ago. Net income was $63,619,000 or $2.38 per diluted share compared to $65,419,000 or $2.27 per diluted share a year ago. EBITDA was $115,288,000 compared to $113,700,000 a year ago. Adjusted EBITDA (numerator for roic) (non-GAAP) was $117,445,000 compared to $119,621,000 a year ago. On non-GAAP basis, operating income was $108,862,000, pre-tax income was $107,995,000, net income was $72,249,000 or diluted EPS was $2.71 compared to operating income of $114,003,000, pre-tax income of $112,468,000, net income of $75,114,000 or diluted EPS of $2.61 for the same period a year ago.
For the first quarter ending September 30, 2016, the company expects net sales to range from $875 million to $925 million, diluted earnings per share to range from $0.49 to $0.57 per share, and non-GAAP diluted earnings per share to range from $0.60 to $0.68 per share. These ranges exclude results for the pending intelisys acquisition. Non-GAAP diluted earnings per share exclude amortization of intangibles, change in fair value of contingent consideration and acquisition costs.
For the fiscal year 2017, the company expects 34.5% effective tax rate.
ScanSource, Inc. is a hybrid distributor connecting devices to partners across hardware, software-as-a-service (SaaS), connectivity and cloud. The Company provides technology solutions and services from suppliers of mobility, barcode, point-of-sale (POS), payments, physical security and networking, communications and collaboration, connectivity and cloud services. It segments include Specialty Technology Solutions and Modern Communications & Cloud. Its Specialty Technology Solutions segment includes enterprise mobile computing, data capture, barcode printing, POS, payments, networking, electronic physical security, cyber security and other technologies. Its Modern Communications & Cloud segment includes communications technologies and services for voice, video conferencing, wireless, data networking, cyber security, cable, unified communications and collaboration, cloud and technology services. Its segments operate in the United States, Canada, Brazil and the United Kingdom.
ScanSource, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2016; Provides Earnings Guidance for the First Quarter Ending September 30, 2016 and Tax Rate Guidance for the Fiscal Year 2017