ScanSource (SCSC) Tops Q2 EPS by 12c, Revenues Beat

ScanSource (NASDAQ: SCSC) reported Q2 EPS of $0.65, $0.12 better than the analyst estimate of $0.53. Revenue for the quarter came in at $810.9 million versus the consensus estimate of $758.33 million.

Second Quarter Summary:

• Net sales: $810.9 million, down 2% year-over-year (up 2% year-over-year for organic growth)
• 7% quarter-over-quarter growth for net sales (up from $757.3 million for first quarter of fiscal year 2021)
• Gross profit: $86.0 million, down 12% year-over-year
• GAAP operating income of $17.1 million; non-GAAP operating income of $23.8 million
• Net income from continuing operations of $11.1 million
• GAAP diluted EPS of $0.43 per share; non-GAAP diluted EPS of $0.65 per share
• Generated strong operating cash flow of $44.4 million during the quarter and $215.0 million for the trailing 12-month period
• Return on invested capital increased to 12.4% for the quarter

"Our employees across the company delivered results that exceeded our expectations, even as we are still recovering from the sales impact of the COVID-19 pandemic," said Mike Baur, Chairman and CEO, ScanSource, Inc. "Strong growth drove higher net sales and operating leverage on our SG&A. We are delighted to welcome Steve Jones, our new CFO, to the ScanSource family, as his background is a great fit with our focus on recurring revenue."

For earnings history and earnings-related data on ScanSource (SCSC) click here.

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