ScanSource 1Q profit falls 12 percent

ScanSource says fiscal 1st-quarter profit falls 12 percent as sales drop

• On 8:30 pm EDT, Thursday October 22, 2009

GREENVILLE, S.C. (AP) -- ScanSource Inc., maker of bar-code labelers and scanners, said Thursday that its fiscal first-quarter profit fell 12 percent as sales dropped.

The company, based in Greenville, S.C., earned $10.9 million, or 41 cents per share, in the quarter that ended Sept. 30. That is down from the $12.4 million, or 47 cents per share, it earned a year earlier.

The quarterly profit fell short of a 44 cent per share consensus prediction of analysts polled by Thomson Reuters.

Revenue fell 9.5 percent to $488.4 million from $539.8 million. Analysts had expected $474 million.

ScanSource shares rose 29 cents to $29.57 on Thursday.