SYNNEX Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended November 30, 2013; Provides Earnings Guidance for the First Quarter of Fiscal 2014; Provides Effective Tax Rate Guidance for the Fiscal Year 2014
January 10, 2014 at 02:32 am IST
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SYNNEX Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended November 30, 2013. For the quarter, the company reported revenue of $3,059,051,000 compared to $2,765,066,000 for the same period a year ago. Income before non-operating items, income taxes and non-controlling interest was $69,425,000 compared to $74,652,000 for the same period a year ago. Income before income taxes and non-controlling interest was $66,040,000 compared to $70,949,000 for the same period a year ago. Net income attributable to the company was $41,488,000 or $1.10 per diluted share compared to $43,640,000 or $1.16 per diluted share for the same period a year ago. Non-GAAP operating income was $75.2 million, non-GAAP net income attributable to the company was $45.4 million or $1.20 per diluted share. Capital expenditure was approximately $13.6 million
For the year, the company reported revenue of $10,845,164,000 compared to $10,285,507,000 for the same period a year ago. Income before non-operating items, income taxes and non-controlling interest was $240,828,000 compared to $255,012,000 for the same period a year ago. Income before income taxes and non-controlling interest was $238,052,000 compared to $236,553,000 for the same period a year ago. Net income attributable to the company was $152,237,000 or $3.06 per diluted share compared to $151,376,000 or $3.99 per diluted share for the same period a year ago. Non-GAAP operating income was $249.2 million, non-GAAP net income attributable to the company was $158.2 million or $4.19 per diluted share. Cash flow from operations was approximately $35.7 million.
The company also provided earnings guidance for the first quarter of fiscal 2014. For the period, the company expected revenue to be in the range of $2.675 billion to $2.775 billion, net income is expected to be in the range of $34.5 million to $36.2 million and diluted earnings per share are expected to be in the range of $0.91 to $0.95. The company reported that the fiscal 2014 first quarter and do not include the impact of the IBM CRM acquisition.
For fiscal 2014, the company anticipates the annual tax rate to be in the 35% to 36% range, excluding the impact of the IBM acquisition.
TD Synnex Corporation is a global distributor and solutions aggregator for the information technology (IT) ecosystem. The Company's two primary solution portfolios include Endpoint Solutions and Advanced Solutions which are comprised of Endpoint Solutions Portfolio and Advanced Solutions Portfolio. Its Endpoint Solutions portfolio primarily includes personal computer (PC) systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software and consumer electronics. Its Advanced Solutions portfolio primarily includes data center technologies such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure. Its Advanced Solutions portfolio also includes specialized solution businesses. It offers services, such as systems design and integration solutions, logistics services, online services, and financial services. Its geographical segments include the Americas, Europe and Asia-Pacific and Japan (APJ).
SYNNEX Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended November 30, 2013; Provides Earnings Guidance for the First Quarter of Fiscal 2014; Provides Effective Tax Rate Guidance for the Fiscal Year 2014