ScanSource Delivers Outstanding First Quarter Performance

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[{"type":"text","content":"\n10% net sales growth drove record earnings per share\n\n GREENVILLE, S.C.--(BUSINESS WIRE)--\nScanSource, Inc. (NASDAQ: SCSC), a leading hybrid distributor connecting devices to the cloud, today announced financial results for the first quarter ended September 30, 2022.\n\n\n\n \n\n\n\nFirst Quarter Summary\n\n\n\n\n\n \n\n\n\nQ1 FY23\n\n\n\n \n\n\n\nQ1 FY22\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in thousands, except per share data)\n\n\n\n\n\nSelect reported measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n$\n\n\n\n943,813\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n857,583\n\n\n\n \n\n\n\n \n\n\n\n10.1\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n113,485\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n101,572\n\n\n\n \n\n\n\n \n\n\n\n11.7\n\n\n\n%\n\n\n\n\n\nGross profit margin %\n\n\n\n \n\n\n\n12.02\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n11.84\n\n\n\n%\n\n\n\n \n\n\n\n18bp\n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n34,888\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n30,328\n\n\n\n \n\n\n\n \n\n\n\n15.0\n\n\n\n%\n\n\n\n\n\nGAAP net income\n\n\n\n$\n\n\n\n24,042\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n22,073\n\n\n\n \n\n\n\n \n\n\n\n8.9\n\n\n\n%\n\n\n\n\n\nGAAP diluted EPS\n\n\n\n$\n\n\n\n0.94\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.86\n\n\n\n \n\n\n\n \n\n\n\n9.3\n\n\n\n%\n\n\n\n\n\nSelect Non-GAAP measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n45,275\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n41,394\n\n\n\n \n\n\n\n \n\n\n\n9.4\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin %\n\n\n\n \n\n\n\n4.80\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n4.83\n\n\n\n%\n\n\n\n \n\n\n\n-3bp\n\n\n\n\n\nNon-GAAP net income\n\n\n\n$\n\n\n\n27,203\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n25,550\n\n\n\n \n\n\n\n \n\n\n\n6.5\n\n\n\n%\n\n\n\n\n\nNon-GAAP diluted EPS\n\n\n\n$\n\n\n\n1.07\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.99\n\n\n\n \n\n\n\n \n\n\n\n8.1\n\n\n\n%\n\n\n\n\n\"We had an outstanding start to our fiscal year, delivering 10% net sales growth and record earnings per share. This exceptional performance is a result of strong demand and working capital investments to meet the needs of our channel partners,\" said Mike Baur, Chairman and CEO, ScanSource, Inc. \"We are winning with our channel partners because of our differentiated hybrid distribution strategy.\"\n\nQuarterly Results\n\nNet sales for the first quarter of fiscal...

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