ScanSource Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - ScanSource Inc. (SCSC) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $17.05 million, or $0.70 per share. This compares with $32.73 million, or $1.29 per share, last year.

Excluding items, ScanSource Inc. reported adjusted earnings of $20.70 million or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.91 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 15.5% to $747.497 million from $884.792 million last year.

ScanSource Inc. earnings at a glance (GAAP) :

-Earnings: $17.05 Mln. vs. $32.73 Mln. last year. -EPS: $0.70 vs. $1.29 last year. -Revenue: $747.497 Mln vs. $884.792 Mln last year.

-Guidance: Full year revenue guidance: $3.1 to $3.5 Billion