ScanSource Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - ScanSource Inc. (SCSC) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $16.974 million, or $0.69 per share. This compares with $15.432 million, or $0.61 per share, in last year's first quarter.

Excluding items, ScanSource Inc. reported adjusted earnings of $20.823 million or $0.84 per share for the period.

Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.5% to $775.580 million from $876.305 million last year.

ScanSource Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $16.974 Mln. vs. $15.432 Mln. last year. -EPS (Q1): $0.69 vs. $0.61 last year. -Revenue (Q1): $775.580 Mln vs. $876.305 Mln last year.

-Guidance: Full year revenue guidance: $3.1 to $3.5 Bln