Welcome to our dedicated page for Scansource news (Ticker: SCSC), a resource for investors and traders seeking the latest updates and insights on Scansource stock.
ScanSource, Inc. (SCSC) is a leading global provider of technology solutions connecting hardware manufacturers with reseller partners across point-of-sale, barcode, security, and cloud services. This page serves as the definitive source for official company announcements and market-moving developments.
Investors and technology professionals will find curated press releases covering earnings reports, product launches, strategic partnerships, and operational updates. Our repository includes details on SCSC's Specialty Technology Solutions and Modern Communications & Cloud segments, providing insight into both hardware innovations and recurring revenue services.
Key focus areas include updates on value-added reseller programs, supply chain developments, and emerging technologies in physical security systems, data networking infrastructure, and cloud-based communication platforms. All content is verified from primary sources to ensure accuracy and timeliness.
Bookmark this page for direct access to SCSC's latest business milestones, financial disclosures, and technology partnership announcements. Check regularly for updates that impact the company analysis and technology distribution landscape.
ScanSource, Inc. (NASDAQ: SCSC), a hybrid distributor connecting devices to the cloud, has released its fiscal year 2024 Corporate Citizenship Report. The report highlights the company's environmental, social, and governance (ESG) strategy and progress, aligning with the Sustainability Accounting Standards Board (SASB) framework. Key focus areas include business ethics, diversity, equity and inclusion (DE&I), data security, and employee engagement. ScanSource expanded its DE&I program, supported over 70 nonprofits, and implemented sustainability initiatives. The report also includes estimates for Scope 1 and 2 Greenhouse Gas emissions and outlines waste reduction and energy management efforts.
ScanSource, Inc. (NASDAQ: SCSC) reported financial results for Q4 and fiscal year 2024. Key highlights:
- Q4 net sales decreased 21.2% to $746.1 million
- Q4 GAAP net income fell 5.8% to $16.1 million
- FY2024 net sales decreased 13.9% to $3.26 billion
- FY2024 GAAP net income decreased 12.5% to $77.1 million
- Strong cash flow: $371.6 million operating cash flow for FY2024
- Acquired Resourcive and Advantix in August 2024
- FY2025 outlook: Net sales $3.1-$3.5 billion, Adjusted EBITDA $140-$160 million
Despite softer demand, ScanSource achieved strong margins and robust cash flow. The company is executing on its capital allocation plan through strategic acquisitions and share repurchases.
ScanSource (NASDAQ: SCSC) has launched its Integrated Solutions and Services (ISS) group, aimed at enhancing value for hardware value-added resellers (VARs). As part of this initiative, ScanSource has acquired Advantix, a managed connectivity experience provider specializing in wireless enablement solutions. This acquisition allows ScanSource hardware VARs to combine connectivity with hardware, software, and services, enabling complete hybrid solutions and increased margins.
Ansley Hoke, a 22-year ScanSource veteran, has been appointed SVP of ISS. Natasha Royer Coons and Nathan Brown will serve as Co-Presidents of Advantix, now a ScanSource company. The acquisition, completed on August 15, 2024, aims to help partners add recurring revenue to their practice and deepen relationships with end users.
ScanSource, a leading hybrid distributor, has acquired Resourcive, a technology advisor specializing in strategic IT sourcing solutions for mid-market and enterprise clients. This acquisition aims to establish a new Channel Advisory business, separate from ScanSource's Intelisys division. Resourcive, founded in 2001, serves over 300 customers across various technology sectors, including cloud, IoT, and communications. The Resourcive team will report to Mark Morgan, who has been appointed President of ScanSource Channel Advisors. The acquisition closed on August 8, 2024, and financial terms were not disclosed.
ScanSource (NASDAQ: SCSC), a leading hybrid distributor connecting devices to the cloud, has announced plans to release its fourth quarter and fiscal year 2024 results on Tuesday, August 27, 2024 at approximately 8:30 a.m. ET. The company will host an earnings conference call on the same day at 10:30 a.m. ET to discuss the results. Investors can access the call via a live Internet webcast in the Investor Relations section of ScanSource's website. A replay of the webcast will be available on the company's website for 60 days following the call.
Intelisys, a ScanSource company and a leader in technology services, has appointed Ken Mills as its new president. Mills, who brings nearly 25 years of leadership experience from companies like Dell Technologies and Cisco, aims to drive sustainable growth for Intelisys, its partners, and suppliers. Previously CEO of Epic iO Technologies, Mills boosted revenue and shareholder value and developed partner-focused platforms. His expertise in AI, IoT, and 5G aligns with Intelisys' strategic goals. Mills will report to Mike Baur, Chair and CEO of ScanSource, and is expected to enhance the company's vision and team leadership.
ScanSource, Inc. (NASDAQ: SCSC) reported its third-quarter results with a decrease in net sales, gross profit, operating income, and net income compared to the previous year. The company highlighted strong margins and free cash flow despite lower hardware sales. Specialty Technology Solutions and Modern Communications & Cloud segments experienced a decline in net sales. However, Intelisys net sales increased. The company announced a new $100 million share purchase authorization. The updated annual financial outlook for fiscal year 2024 includes a decrease in net sales, adjusted EBITDA, and free cash flow expectations.
Intelisys, a ScanSource company, announced the appointment of Eddie Acosta as Vice President of Sales, Central Region. Acosta brings over 20 years of experience in cloud-based technology services. His role involves leading the central region sales team and driving strategy, account management, and business development.
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