Synnex Corp. SNX Earnings
SNX reported Tuesday a 37% jump in profit during its fiscal fourth quarter. Synnex reported profit of $85.3 million, or $2.13 a share, up from $62.2 million, or $1.56 a year earlier. Excluding certain items, adjusted profit increased to $2.57 from $1.80 a share a year earlier. Revenue, meanwhile, rose 9.5% to $3.89 billion.
It's Concentrix business, which provides outsourcing services including direct sales, customer service and technical support, saw revenue climb to $500.4 million from $373.6 million, boosted by the acquisition last year of the Minacs Group.
For the current quarter SNX projects adjusted profit of $1.61 to $1.69 a share on $3.40 billion to $3.60 billion in sales. This is compared with analysts' projection of $1.66 a share on about $3.48 billion in sales, according to Thomson Reuters.