ScanSource, Inc. (NASDAQ:SCSC), the leading international distributor of AIDC (automatic identification and data capture), point of sale, communications, and physical security products for the reseller market, today announced complete financial results for its second quarter ended December 31, 2011.
|Quarter ended December 31, 2011:|
|Net sales||$782.7 million|
|Net income||$21.4 million|
|Diluted EPS||$0.77 per share|
“Our excellent quarterly results were led by record sales in each of our POS/Barcoding business units in all geographies,” said Mike Baur, CEO, ScanSource, Inc. “In addition, we achieved record sales results in our ScanSource Communications business unit in North America.”
For the quarter ended December 31, 2011, net sales increased 14.5% to $782.7 million compared to $683.6 million in the prior year quarter. Operating income decreased by 4.3% to $32.1 million from $33.5 million in the same period last year. Net income decreased 1.2% to $21.4 million for the quarter ended December 31, 2011 versus $21.6 million in the prior year. The effective tax rate for the quarter decreased to 34.7% in the current quarter from 35.7% in the prior year quarter. Diluted earnings per share decreased 3.8% to $0.77 in the current quarter compared to $0.80 in the prior year quarter.
As previously disclosed, the prior year quarter ending December 31, 2010 included the favorable impact of proceeds from a legal settlement against a former service provider representing reimbursement of expenses. The $3.1 million recovery ($2.0 million after tax or $0.07 per diluted share) was recorded as a reduction of selling, general and administrative expenses in the December 2010 quarter. The December 2011 quarter EPS of $0.77 includes a $0.02 benefit for the change in fair value of contingent consideration.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV