Synnex Reports Revenue, Income Growth As CEO Kevin Murai Prepares To Leave On A High Note


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Synnex on Tuesday reported revenue for its full fiscal year 2017, which ended November 30, of $17.0 billion, up 21.2 percent from fiscal 2016's full year revenue of $14.1 billion.

Income on a GAAP basis for all of fiscal 2017 was $301.2 million, or $7.51 per share, up from last year's $234.9 million, or $5.88 per share. On a non-GAAP basis, income for the year was reported at $355.6 million, or $8.86 per share, up from $281.2 million, or $7.04 per share.

For the fourth fiscal quarter, Synnex reported revenue of $5.3 billion, up 36.7 percent over fourth fiscal quarter 2016.

Net income on a GAAP basis was $91.1 million, or $2.26 per share, up from last year's $85.3 million, or $2.13 per share. Non-GAAP net income in the fourth quarter was $112.4 million, or $2.79 per share, up from last year's $102.9 million, or $2.57 per share.

Looking ahead, Synnex expects first fiscal quarter 2018 revenue of between $4.35 billion and $4.55 billion, up significantly from the $3.5 billion the company reported for the year-ago quarter.

GAAP net income in the current quarter is expected to be between $64.0 and $67.8 million, while non-GAAP net income is expected to be between $82.3 million and $87.0 million. This compares to the prior-year GAAP net income of $61.8 million and non-GAAP net income of $73.1 million.

During that time period, earnings are expected to range from $1.58 and $1.68 per share, up from $1.54 per share, while non-GAAP earnings are expected to range from $2.06 and $2.15 per share, up from $1.82 per share.


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