TD SYNNEX Corporation - SNX STOCK NEWS

Concentrix, a global leader in customer experience solutions, has launched Concentrix Experience Platform (XP), designed for next-generation customer experience management. XP leverages advanced cloud and AI technologies for self-service and contact centers, offering features like omnichannel journey orchestration and AI-based bots. The platform is customizable and available globally as a managed service with pay-as-you-go pricing. EVP Kathy Juve emphasized its ability to meet the evolving needs of consumers. The platform aims to help businesses modernize their customer engagement while controlling costs.

SYNNEX Corporation (NYSE: SNX) reported strong financial results for Q3 FY20, with revenue reaching $6.465 billion, a 4.2% increase from Q3 FY19. Operating income rose slightly to $209.1 million, while net income increased 9.2% to $134.5 million. Diluted EPS improved by 8.3% to $2.60. Despite these gains, non-GAAP operating income and margins saw declines. The company anticipates further growth with the proposed spin-off of Concentrix, which may boost stakeholder value.

SYNNEX Corporation (NYSE: SNX) will release its third quarter fiscal 2020 financial results on September 29, 2020, after market close. An earnings call will be held at 2:00 PM PT / 5:00 PM ET on the same day, featuring CEO Dennis Polk, CFO Marshall Witt, and EVP Chris Caldwell. Investors can access the earnings call via live audio webcast on the company's investor relations website, with a replay available later. SYNNEX is a leading business process services company with global operations across multiple regions.

SYNNEX Corporation (NYSE: SNX) announced significant progress on its plan to spin off Concentrix into an independent public company. The company filed a Form 10 Registration Statement with the SEC, removing its confidential status, signaling a major milestone in the separation process. Shareholders will own shares in both SYNNEX and Concentrix post-transaction without a shareholder vote. The separation is expected to complete in Q4 2020, dependent on customary closing conditions. The Form 10 will provide detailed business and financial information regarding the spin-off.

Concentrix has launched SecureCX™, a cutting-edge Work-at-Home (WAH) platform designed to enhance security for remote employees. This platform responds to the increasing need for safe access in remote working environments, integrating advanced digital tools like biometric authentication and real-time monitoring. Supported by 24/7 oversight, SecureCX allows customization to meet client needs. Concentrix aims to ensure maximum security for sensitive customer information, reinforcing its commitment to technological innovation in the customer experience sector.

On August 4, 2020, SYNNEX Canada Limited, a subsidiary of SYNNEX Corporation (NYSE: SNX), was awarded the 2019 HP Inc. Partner of the Year in the category of Canada Distributor of the Year. This recognition highlights SYNNEX Canada's achievements in growth and innovation. The awards celebrate top-performing partners chosen based on strategic growth and innovation criteria. SYNNEX Canada expressed gratitude for its partnership with HP and its commitment to developing innovative solutions for customers, reinforcing their collaborative success.

SYNNEX Corporation (NYSE: SNX) received recognition as the 2019 "HP Inc. Partner of the Year" for its outstanding performance in growth and innovation. The awards highlight top partners in categories such as U.S. Supplies Distributor of the Year and U.S. Print Hardware Distributor of the Year. This acknowledgment reflects SYNNEX's successful collaboration with HP, as indicated by comments from both companies' executives. The award showcases SYNNEX's strategic importance in the IT channel and the mutual commitment to enhancing customer engagement.

SYNNEX Corporation (NYSE: SNX) was awarded the Samsung Smart Signage Award for Overall Distribution Partner of the Year during Samsung's virtual event on July 22, 2020. This award recognizes SYNNEX’s achievements in successful display implementations and customer commitment in the smart signage market. The company continues to expand its market share across various verticals with dedicated sales teams and support for small-to-medium businesses.

SYNNEX Corporation (NYSE: SNX) announced that Bob Stegner, Senior VP of Marketing, North America, was inducted into the CompTIA IT Hall of Fame for his substantial contributions to the IT industry. Stegner's impact, spanning over three decades, includes founding the Varnex community and enhancing marketing strategies for partners. His induction will occur on August 6 during ChannelCon Online 2020. CompTIA acknowledges individuals who significantly advance technology and the IT channel.