ScanSource Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - ScanSource Inc. (SCSC) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $15.4 million, or $0.61 per share. This compares with $24.0 million, or $0.94 per share, in last year's first quarter.

Excluding items, ScanSource Inc. reported adjusted earnings of $18.7 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.2% to $876.3 million from $943.8 million last year.

ScanSource Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.4 Mln. vs. $24.0 Mln. last year. -EPS (Q1): $0.61 vs. $0.94 last year. -Analyst Estimates: $0.91 -Revenue (Q1): $876.3 Mln vs. $943.8 Mln last year.

-Guidance: Full year revenue guidance: $3.8 bln