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SYNNEX Corporation Reports Fiscal 2012 Third Quarter Results

SYNNEX Corporation (NYSE: SNX), a leading business process services company, today announced financial results for the fiscal third quarter ended August 31, 2012.
    Q3 FY12 (1)   Q3 FY11  

Net Change
Revenue ($M) $2,577 $2,572 0.2%

Operating income ($M) (2) (3)
$57.1 $66.5 -14.2%
Operating margin 2.21% 2.59% -38 bp
Net income attributable to SYNNEX Corporation ($M) $35.1 $39.0 -10.0%
Diluted EPS $0.93 $1.07 -13.1%

1. The fiscal 2012 third quarter results include the transition of certain customer gross revenue business to a fee for service logistics relationship resulting in a decline in the reported revenue.

2. The fiscal 2012 third quarter operating income includes a $0.7 million credit adjustment to contingent M&A consideration.

3. The fiscal 2011 third quarter operating income includes a $4.1 million credit adjustment to contingent M&A consideration.

“I am pleased with our third quarter results, highlighted by strong profitability and share gains in our Distribution segment, and solid progress in our Global Business Services (GBS) segment,” stated Kevin Murai, President and Chief Executive Officer.

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