ScanSource reports higher 2Q net income

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ScanSource Inc., a Greenville-based provider of technology products, reported higher second-quarter net income.

On a GAAP basis, net income for the quarter ended Dec. 31 totaled $23 million, or 91 cents per diluted share. That compared with net income of $20.7 million, or 77 cents per diluted share, for the prior-year quarter.

Net sales of $904.8 million decreased from $993.5 million in the prior-year quarter, due primarily to lower sales in the worldwide barcode, networking and security segment, company officials said.

“We are pleased to deliver strong bottom-line results, despite top-line growth challenges,” said Mike Baur, ScanSource’s CEO. “Our core business achieved better than expected profitability from higher gross margins. In addition, the recurring revenues and higher margins from our successful Intelisys acquisition led to these strong results.”

 

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