ScanSource 1Q Profit Falls 12 Percent
The Associated Press
10/22/09 - 08:30 PM EDT
GREENVILLE, S.C. (AP) ¿ ScanSource Inc., maker of bar-code labelers and scanners, said Thursday that its fiscal first-quarter profit fell 12 percent as sales dropped.
The company, based in Greenville, S.C., earned $10.9 million, or 41 cents per share, in the quarter that ended Sept. 30. That is down from the $12.4 million, or 47 cents per share, it earned a year earlier.
The quarterly profit fell short of a 44 cent per share consensus prediction of analysts polled by Thomson Reuters.
Revenue fell 9.5 percent to $488.4 million from $539.8 million. Analysts had expected $474 million.
ScanSource shares rose 29 cents to $29.57 on Thursday.