FREMONT, Calif. (AP) -- Back-office services provider Synnex Corp. said Tuesday that its fourth-quarter net income rose by one-third as its revenue grew.
The results were better than analysts expected on average, and Synnex's shares rose.
The company's net income in the three months that ended Nov. 30 rose to $50.2 million, or $1.37 per share, from $37.5 million, or $1.04 per share, a year earlier.
Revenue rose 15 percent to $2.84 billion from $2.47 billion.
Analysts polled by FactSet were expecting for adjusted earnings of $1.13 per share on revenue of $2.82 billion.
The company said it expects first-quarter revenue of $2.48 billion to $2.58 billion, with the midpoint slightly below the $2.56 billion expected by analysts. It also expects earnings per share between 89 cents and 93 cents, above the 89 cents per share that analysts were looking for.
For the year, the company said it earned $150.3 million, or $4.08 per share, on revenue of $10.41 billion.
Synnex shares rose $1.31, or 4.1 percent, to $33.40 in after-hours trading on Tuesday, after the company reported its results. They ended the regular session up 55 cents, or 1.7 percent, at $32.09.
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