ScanSource Inc. Q1 Profit Increases, Beats Estimates

ScanSource

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(RTTNews) - ScanSource Inc. (SCSC) announced a profit for its first quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $19.878 million, or $0.89 per share. This compares with $16.974 million, or $0.69 per share, last year.

Excluding items, ScanSource Inc. reported adjusted earnings of $23.685 million or $1.06 per share for the period.

Analysts on average had expected the company to earn $0.93 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.6% to $739.650 million from $775.580 million last year.

ScanSource Inc. earnings at a glance (GAAP) :

-Earnings: $19.878 Mln. vs. $16.974 Mln. last year. -EPS: $0.89 vs. $0.69 last year. -Revenue: $739.650 Mln vs. $775.580 Mln last year.

Looking ahead, for the full year, the company has reaffirmed its annual outlook.

ScanSource still expects adjusted EBITDA of $150 million to $160 million, on revenue of $3.1 billion to $3.3 billion, compared with Street view of $3.18 billion.

SCSC was down by 15.98% at $35.18 in the pre-market trade on the Nasdaq.