ScanSource Q2 Results Top View

(RTTNews) - ScanSource Inc. (SCSC), a provider of technology products and solutions, reported that its net loss for the second quarter of fiscal year 2021 was $14.19 million or $0.56 per share compared to net income of $11.37 million or $0.45 per share in the previous year.

Net income from continuing operations for the second quarter of fiscal year 2021 declined to $11.1 million or $0.43 per share, from $11.6 million or $0.46 per share last year.

Non-GAAP net income from continuing operations was $16.5 million, or $0.65 per share, compared to $19.4 million, or $0.77 per share, for the prior-year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts' estimates typically exclude special items. Net sales were $810.9 million for the second quarter, down 2% year-over-year or up 2% year-over-year for organic growth.The year-over-year reduction in net sales was primarily due to the impact of the COVID-19 pandemic. During the quarter, the company saw continued progress in recovering from the sales impact of the COVID-19 pandemic in North America and Brazil. Analysts expected revenue of $758.33 million for the quarter.