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ScanSource Reports Fourth Quarter And Full Year Results

ScanSource, Inc. (NASDAQ:SCSC), the leading international value-added distributor of specialty technology products, today announced complete financial results for its fourth quarter and fiscal year ended June 30, 2013, including non-cash impairment charges.
Quarter ended June 30, 2013:       Fiscal Year ended June 30, 2013:
 
Net sales $712.7 million Net sales $2,877.0 million
GAAP net loss $(13.3) million GAAP net income $34.7 million
Adjusted net income (1) $19.9 million Adjusted net income (1) $69.3 million
GAAP diluted EPS $(0.48) per share GAAP diluted EPS $1.24 per share
Adjusted diluted EPS (1) $0.71 per share Adjusted diluted EPS (1) $2.47 per share
 

(1) A reconciliation of non-GAAP financial information to GAAP financial information is presented in the following Supplementary

Information table.

“We saw record quarterly sales in our North America Communications and Security business units,” said Mike Baur, CEO, ScanSource, Inc. “The lack of big deals in our POS & Barcode business units, however, led to lower than expected fourth quarter sales. Despite lower sales, our return on invested capital increased to 17.2%, excluding the impairment charges, driven by higher margins, better working capital management, and our focus on value-added growth.”

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