ScanSource Inc. Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $23.5 million, or $0.91 per share. This compares with $13.8 million, or $0.54 per share, in last year's third quarter.

Excluding items, ScanSource Inc. reported adjusted earnings of $26.8 million or $1.04 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.9% to $846.0 million from $729.8 million last year.

ScanSource Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $23.5 Mln. vs. $13.8 Mln. last year. -EPS (Q3): $0.91 vs. $0.54 last year. -Analyst Estimate: $0.67 -Revenue (Q3): $846.0 Mln vs. $729.8 Mln last year.