ScanSource Tops Wall Street Q1 Expectations On Sales Of Communications, Security Products

ScanSource, based in Greenville, S.C., earned $18.4 million, or 67 cents per share, on $770.3 million in revenue for its first quarter. Analysts had been expecting earnings of 64 cents per share on $756.9 million in sales for the first fiscal quarter.

Like many companies' recent financials, ScanSource said North American results overshadowed weakness in Europe. "Excluding our acquisition of CDC Brasil, our international growth rate slowed to 9% over the prior year," said CEO Mike Baur in a statement.

North American sales increased 16 percent to $573.5 million.

In the year-ago quarter, ScanSource reported $15.7 million in net income, or 58 cents per share, on $634.5 million in sales.

For the current quarter, ScanSource expects earnings between 64 cents and 67 cents on sales of $755 million to $775 million.

ScanSource sales closed at $37.86 Thursday, up $2.61 or 7.4 percent.