ScanSource Reports First Quarter Results

ScanSource, Inc. (NASDAQ:SCSC), a leading global provider of technology products and solutions, today announced financial results for fiscal year 2017 first quarter ended September 30, 2016.
Quarter ended September 30,
2016   2015   Change
(in millions, except per share data)
Net sales $ 932.6 $ 870.8 7

 %
Operating income 22.9 24.4 (6 )%
Non-GAAP operating income (1) 26.7 28.4 (6 )%
GAAP net income 14.8 16.0 (7 )%
Non-GAAP net income (1) 17.5 18.9 (8 )%
GAAP diluted EPS $ 0.58 $ 0.57 2

 %
Non-GAAP diluted EPS (1) $ 0.68 $ 0.68

 %
 
(1) A reconciliation of non-GAAP financial information to GAAP financial information is presented in the Supplementary Information (Unaudited) below.

"We are pleased with our solid financial results for our first quarter," said Mike Baur, CEO, ScanSource, Inc. "We achieved 7% net sales growth primarily from our businesses in North America. In addition, the acquisition of Intelisys, closed during the quarter, brings the benefits of a successful recurring revenue model and adds capabilities in the growing telecom and cloud services market."

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