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. reports news around its role as a technology distributor serving channel partners across hardware, software as a service, connectivity and cloud services. Company updates commonly cover quarterly financial results, GAAP and non-GAAP performance measures, recurring revenue, free cash flow outlook, and activity in Specialty Technology Solutions and Intelisys & Advisory.
Recurring announcements also address channel strategy, converged communications and customer experience offerings, supplier and partner initiatives, investor conference participation, and leadership appointments. The business is tied to specialty technologies including mobility and barcode, point-of-sale, payments, security, networking, unified communications and cloud connectivity.
ScanSource, a leading hybrid distributor, reported strong Q3 2022 results with net sales of $846 million, reflecting a 15.9% increase year-over-year. Gross profit rose 20.9% to $106.5 million, with a gross profit margin of 12.6%. Operating income surged 69.4% to $32.9 million, and GAAP net income reached $23.5 million ($0.91 per share), a 70.7% increase from the previous year. The company raised its FY22 outlook, expecting at least 10% net sales growth and adjusted EBITDA of at least $165 million. The adjusted return on invested capital improved to 18.0%.
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ScanSource (NASDAQ: SCSC) announces it will release third quarter fiscal 2022 results for the period ended March 31, 2022, on May 10, 2022, at approximately 4:00 p.m. ET. The management will also host an earnings conference call that day at 5:00 p.m. ET. Investors can access the call via a live Internet webcast on www.scansource.com, with a replay available for 60 days following the event. The company, based in Greenville, SC, specializes in connecting devices to the cloud.
On April 13, 2022, Intermedia Cloud Communications announced a partnership with Intelisys, a ScanSource company, to enhance the accessibility of its UCaaS and CCaaS solutions. This collaboration enables Intelisys' sales partners to offer Intermedia's services through flexible partner programs, allowing partners to tailor their offerings to customer needs. The partnership aims to expand Intermedia's partner network significantly while simplifying partner operations by providing an all-in-one cloud communications platform. The CORE™ model enhances revenue potential for partners, while the Advisor program ensures recurring commissions and streamlined support.
ScanSource (NASDAQ: SCSC) announced its participation in the Sidoti Spring 2022 Virtual Investor Conference on March 24, 2022, at 11:30 a.m. Eastern Time. Presenters include CFO Steve Jones and President John Eldh. The session will be accessible via a live webcast, with a replay available for 30 days post-event. Investors can access the presentation materials on the ScanSource website.
ScanSource is a hybrid distributor that connects devices to the cloud and facilitates growth for its partners across various sectors.
ScanSource, Inc. (NASDAQ: SCSC) announced its participation at the Raymond James 43rd Annual Institutional Investors Conference on March 9, 2022, at 11:35 a.m. Eastern Time in Orlando, Florida. Presenters will include Steve Jones, Chief Financial Officer, and John Eldh, President. A live webcast will be available during the session, with a replay accessible for 30 days afterward. An investor presentation will also be posted on the ScanSource website's Investor Relations section.
ScanSource connects devices to the cloud, fostering growth for partners across hardware and cloud services.
ScanSource, Inc. (NASDAQ: SCSC) has appointed John Eldh as the new President, succeeding Mike Baur. Eldh aims to enhance the company's hybrid distribution strategy, connecting devices to the cloud while driving growth across hardware, SaaS, and cloud services. Previously, Eldh served as Chief Revenue Officer since October 2019, focusing on channel-centric executives to lead global device and cloud businesses. Baur praised Eldh’s vision and leadership, emphasizing the potential for profitable growth. ScanSource is recognized for its innovative distribution strategies and was listed among the Best Places to Work in South Carolina.
ScanSource (NASDAQ: SCSC) reported strong second-quarter results for fiscal year 2022, with net sales of $864.4 million, a 6.6% increase year-over-year. Gross profit rose 25.4% to $107.9 million, boosting gross profit margin to 12.5%. Operating income surged 83.9% to $31.5 million, resulting in a GAAP net income of $23.2 million, or $0.89 per diluted share. The company also raised its full-year outlook for net sales growth to at least 7% and adjusted EBITDA to at least $148 million. Additionally, ScanSource was named to FORTUNE's 2022 list of World's Most Admired Companies for the sixth consecutive year.
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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.