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ScanSource, Inc. (NASDAQ: SCSC) stands as a prominent global provider of advanced technology products and solutions. The company specializes in a wide array of sectors including point-of-sale, barcode, physical security, video, voice, data networking, and comprehensive technology services. Since its foundation in 1992, ScanSource has been dedicated to delivering exceptional value-added solutions, tailored to meet the intricate needs of businesses across diverse vertical markets in North America, Latin America, and Europe.
Operating from two main segments—Worldwide Barcode & Security and World Communications & Services—ScanSource ensures optimal support for its resellers and sales partners. The Worldwide Barcode & Security segment encompasses the company's expertise in mobility, barcode, POS, payments, security, and networking technologies. The World Communications & Services segment, strengthened by the acquisition of Intelisys in August 2016, pioneers in the recurring revenue telecom and cloud services market, positioning ScanSource as a leader in technology services distribution.
Headquartered in Greenville, South Carolina, ScanSource prides itself on fostering a collaborative and innovative work environment, recognized as one of the Best Places to Work in South Carolina in 2016. The company's commitment to excellence is further evidenced by its rank at #685 on the Fortune 1000 list.
Financially, ScanSource generates a significant portion of its revenue from the United States, primarily from its Specialty Technology Solutions segment. The company's strategic partnerships and robust service offerings enable it to maintain a competitive edge in the specialty technology markets.
For more detailed and up-to-date information about ScanSource, including their latest achievements and ongoing projects, please visit their official website at www.scansource.com.
ScanSource (NASDAQ: SCSC) reported a robust fourth quarter for fiscal year 2021, with net sales reaching $852.7 million, representing a 34% increase year-over-year. The gross profit also increased by 29% to $95.8 million. Non-GAAP operating income surged 245% year-over-year to $28.4 million, while net income from continuing operations amounted to $20.7 million, or $0.80 per diluted share. The company announced a new $100 million share repurchase authorization and projected at least 5.5% growth in net sales for FY22.
ScanSource, Inc. (NASDAQ: SCSC) announced the retirement of long-time director Jack Reilly, effective January 27, 2022, after serving since 2001. Charles Mathis has been appointed to the Board, effective August 19, 2021, expanding the Board to ten members. Mathis, with extensive experience in finance and capital markets, previously served as ScanSource's CFO from 2012 to 2016 and played a key role in the acquisition of Intelisys. The Board will consist of nine directors following Reilly's departure, highlighting significant shifts in governance.
ScanSource (NASDAQ: SCSC) has appointed John DeLozier as president of Intelisys, enhancing the company's efforts in technology services and solutions. DeLozier, who has over 20 years of experience with ScanSource, will focus on driving growth, improving partner relationships, and overseeing operations. He succeeds Mark Morgan, who transitions to president of Global Business Strategy. Morgan will drive strategic goals across ScanSource's operations. Both roles are effective immediately and aim to leverage market opportunities for partners.
ScanSource, Inc. (NASDAQ: SCSC) announced the promotion of Tony Sorrentino to President, North America, where he will manage sales, supplier relationships, and operations for the hardware business. Sorrentino aims to align ScanSource hardware and POS Portal businesses while driving a recurring revenue model through cloud and SaaS solutions. His extensive experience is expected to enhance growth strategies and provide partners with essential tools and support. The company continues to connect businesses with technology solutions, ranking #655 on the Fortune 1000.
ScanSource, Inc. (NASDAQ: SCSC) will release its fourth quarter and fiscal year 2021 results on August 24, 2021, at approximately 4:00 p.m. ET. Management will discuss these results during an earnings conference call later that day at 5:00 p.m. ET. This call can be accessed via a live Internet webcast on ScanSource's Investor Relations website, with a replay available for 60 days. Founded in 1992, ScanSource connects businesses with technology solutions across various sectors and has been recognized as one of the Best Places to Work in South Carolina.
Intelisys, a ScanSource company, announces an expanded partnership with Cisco, enhancing its offerings by integrating Cisco's Webex portfolio. This is an extension of a successful 14-year collaboration, allowing Intelisys sales partners to provide Cisco's award-winning solutions, including calling, meetings, and messaging. The partnership aims to unlock growth opportunities in unified communications and cloud services, enhancing recurring revenue for agents. Intelisys emphasizes its commitment to support partners in the evolving technology landscape.
ScanSource, Inc. (Nasdaq: SCSC) has appointed Rachel Hayden as Senior Executive Vice President and Chief Information Officer, effective June 7, 2021. She will oversee the global IT strategy and report directly to Chairman and CEO Mike Baur. With significant experience in enterprise-wide IT programs, Hayden previously served as CIO at Just Born, Inc. and held various roles at Berry Plastics. Baur emphasized the importance of strong IT leadership for future growth, highlighting Hayden's expertise in SAP, CRM, and global systems implementation, which aligns with ScanSource’s strategic objectives.
ScanSource, Inc. (SCSC) reported its third-quarter financial results for the period ending March 31, 2021. Net sales reached $729.9 million, a 2% decline year-over-year, although organic growth remained flat. The gross profit improved by 4% to $88.1 million. GAAP operating income surged 87% to $19.4 million, while non-GAAP operating income rose 70% to $25.1 million. Net income increased to $13.8 million, or $0.54 per diluted share. The company maintained a strong cash position with $49.3 million and reduced debt to $198.9 million.
ScanSource, Inc. (NASDAQ: SCSC) has announced the release date for its third quarter fiscal year 2021 results, set for May 10, 2021, at approximately 4:00 p.m. ET. The earnings conference call will follow the results announcement at 5:00 p.m. ET, accessible via the company’s Investor Relations website. ScanSource specializes in technology solutions and has been recognized for its workplace environment and industry reputation, ranking #654 on the Fortune 1000 and included in FORTUNE's list of admired companies.
ScanSource, Inc. (NASDAQ: SCSC) announced that CFO Steve Jones will present at the Sidoti Spring 2021 Virtual Investor Conference on March 25, 2021, at 8:30 a.m. ET. The session will be available via a live webcast, with a replay accessible for 30 days post-event. Interested parties can visit www.scansource.com for more details. ScanSource, a technology solution provider, offers various products and solutions across multiple markets and has been recognized as one of the Best Places to Work in South Carolina.
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