ScanSource Delivers Outstanding Second Quarter Performance

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[{"type":"text","content":"\n17% Net Sales Growth Drove Excellent Profitability; Raises Full Year Outlook\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 second quarter ended December 31, 2022.\n\n\n\n \n\n\n\nSecond Quarter Summary\n\n\n\n\n\n \n\n\n\nQ2 FY23\n\n\n\n \n\n\n\nQ2 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$\n\n\n\n1,011,241\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n864,079\n\n\n\n \n\n\n\n \n\n\n\n17.0\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n115,334\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n107,653\n\n\n\n \n\n\n\n \n\n\n\n7.1\n\n\n\n%\n\n\n\n\n\nGross profit margin %\n\n\n\n \n\n\n\n11.41\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n12.46\n\n\n\n%\n\n\n\n \n\n\n\n-105bp\n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n39,432\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n31,498\n\n\n\n \n\n\n\n \n\n\n\n25.2\n\n\n\n%\n\n\n\n\n\nGAAP net income\n\n\n\n$\n\n\n\n25,734\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n23,152\n\n\n\n \n\n\n\n \n\n\n\n11.2\n\n\n\n%\n\n\n\n\n\nGAAP diluted EPS\n\n\n\n$\n\n\n\n1.01\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.89\n\n\n\n \n\n\n\n \n\n\n\n13.5\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$\n\n\n\n48,815\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n42,542\n\n\n\n \n\n\n\n \n\n\n\n14.7\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin %\n\n\n\n \n\n\n\n4.83\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n4.92\n\n\n\n%\n\n\n\n \n\n\n\n-9bp\n\n\n\n\n\nNon-GAAP net income\n\n\n\n$\n\n\n\n26,941\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n26,446\n\n\n\n \n\n\n\n \n\n\n\n1.9\n\n\n\n%\n\n\n\n\n\nNon-GAAP diluted EPS\n\n\n\n$\n\n\n\n1.06\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.02\n\n\n\n \n\n\n\n \n\n\n\n3.9\n\n\n\n%\n\n\n\n\n\"The ScanSource team executed exceptionally well, delivering 17% net sales growth and record profitability for the quarter,\" said Mike Baur, Chairman and CEO, ScanSource, Inc. \"This exceptional performance is a result of strong demand and operating leverage in our hardware and Intelisys businesses. With our outstanding second quarter results, we are raising our full year 2023 outlook for both net sales growth and adjusted EBITDA.\"...

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