ScanSource raises Q1 2012 outlook, ahead of market expectations
ScanSource (NASDAQ:SCSC), a wholesale distributor of bar code scanners and other devices, said on Friday
that it has raised first-quarter 2012 sales forecasts.
For the three months ended Sept. 30, the company expects sales of $755 million to $765 million. That is up from its August forecast of $730 to $750 million.
Analysts, on average, expect sales to be $743 million, according to Bloomberg.
The company said it plans to report results on Oct. 27.
Recently, ScanSource posted a 26.2% rise in net sales for the period ended June 30. It saw revenue of $734.9 million compared to $582.3 million a year ago, while its profits shot up 39.9% to $19.7 million versus $14
million.
On the earnings front, the company made 71 cents per fully diluted share, compared with 52 cents per fully diluted share, an increase of 36.5%.
ScanSource, founded in 1992, which makes automatic identification and data capture devices and point of sale solutions, operates from seven sales units in North America, Latin America and Europe.
The Greenville, South Carolina-based company's stock grew one cent, or 0.03%, to $32.23 Friday on the Nasdaq.
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