ScanSource sees Q1 sales dip, still tops Street

ScanSource says expects Q1 sales to drop at least 9.6 percent, but still ahead of Street view

• On 5:09 pm EDT, Wednesday October 7, 2009

GREENVILLE, S.C. (AP) -- ScanSource Inc., a distributor of bar-code scanners and other electronics, said Wednesday that its first-quarter sales will fall by at least 9.6 percent from year-ago levels.

The Greenville-based company said it expects to post sales of $480 million to $488 million in the quarter ended Sept. 30, compared with $540 million in the same period a year ago. Analysts polled by Thomson Reuters expect sales to come in at $450.6 million on average.

ScanSource said it will report sales broken down by geographic areas and product lines on its earnings conference call on Oct. 22. It will also provide a second-quarter forecast.

Shares of ScanSource rose by 24 cents to close Wednesday's regular session at $29.54. They were up $2.16 to $31.70 in after-hours dealings.