ScanSource Delivers Strong First Quarter Performance

About this update from Scansource, Inc.

[{"type":"text","content":"\nStrong demand drives excellent top-line growth; net sales increased 13% year-over-year\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, 2021. All results in this release reflect continuing operations only unless otherwise noted.\n\n\n\nFirst Quarter Summary:\n\n\n\nQuarter ended September 30,\n\n\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \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$\n\n\n\n857,311\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n757,342\n\n\n\n \n\n\n\n \n\n\n\n13.2\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n101,300\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n80,779\n\n\n\n \n\n\n\n \n\n\n\n25.4\n\n\n\n%\n\n\n\n\n\nGross profit margin %\n\n\n\n \n\n\n\n11.82\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n10.67\n\n\n\n%\n\n\n\n \n\n\n\n115bp\n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n30,328\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,634\n\n\n\n \n\n\n\n \n\n\n\nn/m\n\n\n\n\n\nGAAP net income\n\n\n\n$\n\n\n\n22,073\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(115\n\n\n\n)\n\n\n\n \n\n\n\nn/m\n\n\n\n\n\nGAAP diluted EPS\n\n\n\n$\n\n\n\n0.86\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.01\n\n\n\n)\n\n\n\n \n\n\n\nn/m\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$\n\n\n\n41,394\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n20,911\n\n\n\n \n\n\n\n \n\n\n\n98.0\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\n2.76\n\n\n\n%\n\n\n\n \n\n\n\n207bp\n\n\n\n\n\nNon-GAAP net income\n\n\n\n$\n\n\n\n25,550\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n10,698\n\n\n\n \n\n\n\n \n\n\n\n138.8\n\n\n\n%\n\n\n\n\n\nNon-GAAP diluted EPS\n\n\n\n$\n\n\n\n0.99\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.42\n\n\n\n \n\n\n\n \n\n\n\n135.7\n\n\n\n%\n\n\n\n\n\nn/m - percentages are not meaningful\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\"Excellent top-line growth driven by strong demand proves our hybrid distribution strategy is winning,\" said Mike Baur, Chairman and CEO, ScanSource, Inc. \"Our business is built for top-line growth, and we realized oper...

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