Scansource Stock Price, News & Analysis

ScanSource (NASDAQ: SCSC), a hybrid distributor connecting devices to the cloud, will release its second quarter fiscal 2022 results on February 8, 2022, at 4:00 p.m. ET. The results will cover the period ending December 31, 2021. A conference call to discuss these results is scheduled for the same day at 5:00 p.m. ET, accessible via a live Internet webcast through ScanSource's Investor Relations page. With a strong focus on hardware, software, connectivity, and cloud services, ScanSource aims to accelerate growth for its partners in various market segments.

ScanSource, Inc. (NASDAQ: SCSC), a leading hybrid distributor, announced that its CEO Mike Baur and CFO Steve Jones will participate in a virtual Q&A session at the Raymond James 2021 Technology Investors Conference on December 7, 2021, at 2:10 p.m. ET. The session will be available via a live webcast, with a replay accessible for 30 days. Interested participants can find more details on ScanSource's Investor Relations page. Founded in 1992 and based in Greenville, South Carolina, ScanSource connects devices to the cloud.

ScanSource reported a strong first quarter for fiscal year 2022, achieving net sales of $857.3 million, a 13.2% year-over-year increase. Gross profit rose 25.4% to $101.3 million, boosting the gross profit margin to 11.8%. Operating income surged to $30.3 million compared to $1.6 million in the previous year. GAAP net income was $22.1 million or $0.86 per diluted share, a significant improvement from a loss of $0.1 million. The company maintains an annual outlook of at least 5.5% net sales growth for fiscal year 2022.

Semafone has appointed three new board members, aiming to enhance operational and commercial strategies. Carlos Sartorius takes on the role of Chairman, while Denise Parker and Michael Sterl join as Non-Executive Directors. Their backgrounds in high-growth organizations are expected to strengthen Semafone’s market approach and customer base expansion. Sartorius brings substantial IT security knowledge, Parker offers fintech expertise, and Sterl contributes insights from the contact center sector. This leadership change aligns with Semafone's objectives for strategic growth and improved market presence.

ScanSource, Inc. (NASDAQ: SCSC) announced plans to release its first quarter fiscal year 2022 results on November 9, 2021, at 4:00 p.m. ET. The earnings conference call will follow at 5:00 p.m. ET the same day, accessible via a live Internet webcast. ScanSource connects businesses with technology solutions across various sectors, offering products from leading suppliers in areas like POS and cloud services. The company was recognized in 2021 as one of South Carolina’s Best Places to Work and ranks #655 on Fortune 1000.

ScanSource (NASDAQ: SCSC) reported a robust fourth quarter for fiscal year 2021, with net sales reaching $852.7 million, representing a 34% increase year-over-year. The gross profit also increased by 29% to $95.8 million. Non-GAAP operating income surged 245% year-over-year to $28.4 million, while net income from continuing operations amounted to $20.7 million, or $0.80 per diluted share. The company announced a new $100 million share repurchase authorization and projected at least 5.5% growth in net sales for FY22.

ScanSource, Inc. (NASDAQ: SCSC) announced the retirement of long-time director Jack Reilly, effective January 27, 2022, after serving since 2001. Charles Mathis has been appointed to the Board, effective August 19, 2021, expanding the Board to ten members. Mathis, with extensive experience in finance and capital markets, previously served as ScanSource's CFO from 2012 to 2016 and played a key role in the acquisition of Intelisys. The Board will consist of nine directors following Reilly's departure, highlighting significant shifts in governance.

ScanSource (NASDAQ: SCSC) has appointed John DeLozier as president of Intelisys, enhancing the company's efforts in technology services and solutions. DeLozier, who has over 20 years of experience with ScanSource, will focus on driving growth, improving partner relationships, and overseeing operations. He succeeds Mark Morgan, who transitions to president of Global Business Strategy. Morgan will drive strategic goals across ScanSource's operations. Both roles are effective immediately and aim to leverage market opportunities for partners.

ScanSource, Inc. (NASDAQ: SCSC) announced the promotion of Tony Sorrentino to President, North America, where he will manage sales, supplier relationships, and operations for the hardware business. Sorrentino aims to align ScanSource hardware and POS Portal businesses while driving a recurring revenue model through cloud and SaaS solutions. His extensive experience is expected to enhance growth strategies and provide partners with essential tools and support. The company continues to connect businesses with technology solutions, ranking #655 on the Fortune 1000.