Synnex Down 1.9% in 3Q - Modern Distribution Management

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Synnex Down 1.9% in 3Q

In the third quarter, Synnex’s net income of $94.7 million increased by 10.5% over the same quarter a year ago.
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On Tuesday, Synnex Corp., Fremont, California, (SNX) on Tuesday reported fiscal third-quarter sales of $5.2 billion, down 1.9% from the prior fiscal third quarter. In the third quarter, Synnex’s net income of $94.7 million increased by 10.5% over the same quarter a year ago.

“Results were consistent with expectations as ongoing industry-wide supply chain shortages led to a slight year-over-year revenue decline for legacy Synnex in the fiscal third quarter,” said Synnex CFO Marshall Witt. “Despite these challenges, our team once again executed flawlessly, focusing on optimizing our core business and increasing our value-added services and products leading to improved margin performance.”

Going forward, Synnex said it expects revenue in the range of $15 billion to $16 billion for the fiscal fourth quarter. Synnex expects its per-share earnings to range from $2.50 to $2.80.


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