ScanSource Earnings Increase 24 Percent, Sales Up 36 Percent


ScanSource earned $5.2 million, or 83 cents per share, for the third quarter ended March 31, compared with net income of $4.2 million, or 69 cents per share, for the year-ago period.

Thomson Financial/First Call had projected earnings of 73 cents per share.

The Greenville-based distributor of automatic data capture, point-of-sale and telephony products reported $211.5 million in revenue, compared with $155.2 million in revenue for the same quarter last year.

ScanScource's net income benefited from a temporary change in the company's effective income tax rate that saved $263,000, or 4 cents per share.

"We were very pleased that this quarter's strong sales growth in both our bar-code and phone businesses allowed us to make investments in Europe while delivering [earnings per share growth above expectations," said Mike Baur, president and CEO of ScanSource.

For the fourth quarter, ScanSource expects revenue of between $194 million and $212 million.

ScanSource shares closed at $64, up 50 cents, Thursday.