SYNNEX Corporation Reports Fiscal 2013 Fourth Quarter And Full Year Results

SYNNEX Corporation (NYSE: SNX), a leading business process services company, today announced financial results for the fiscal fourth quarter and year ended November 30, 2013.
    Q4 FY13   Q4 FY13   Q4 FY12   Net change

Q4FY13 vs Q4FY12
  GAAP

Results
Non-GAAP

Results (1)
GAAP

Results
GAAP

Results
  Non-GAAP

Results
Revenue ($M) $3,059 N/A $2,765 10.6% N/A
Operating income ($M) $69.4 $75.2 $74.7 -7.0% 0.8%
Operating margin 2.27% 2.46% 2.70% -43bp

-24bp

Net income attributable toSYNNEX Corporation ($M)
$41.5 $45.4 $43.6 -4.9% 4.1%
Diluted EPS $1.10 $1.20 $1.16 -5.2% 3.4%

(1)Non-GAAP results exclude the impact of expenses incurred for the anticipated acquisition of the IBM customer relationship management business process outsourcing business (“IBM CRM acquisition”) and other integration costs in our GBS segment. The impact of these expenses was $5.8 million, pre-tax, on operating income and operating margin and $3.9 million, net of tax, on net income attributable to SYNNEX Corporation and diluted EPS. A reconciliation of GAAP financial measures to non-GAAP financial measures is presented in the supplementary information section of the press release.

“I am pleased to report a strong finish to fiscal 2013 with fourth quarter results reflecting the continued strength of our business," stated Kevin Murai, President and Chief Executive Officer, “We’re excited about the growth opportunities in 2014 in our Distribution and GBS businesses, as well as closing the acquisition of the IBM CRM BPO business which we expect to occur this quarter.”

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