Synnex Posts Higher Q4 Profit

(RTTNews) - Synnex Corp. (SNX) reported net income for the fourth quarter of $57.1 million or $1.44 per share, compared to $41.5 million or $1.09 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $72.7 million or $1.83 per share, compared to $46.7 million or $1.23 per share in the prior year quarter.

Revenue for the fourth quarter rose 25% to $3.82 billion from $3.06 billion a year ago.

Looking forward the the first quarter, the company forecasts revenue of $3.375 billion to $3.475 billion and adjusted earnings of $1.49 to $1.54 per share.