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Synnex: Fiscal 3Q Earnings Snapshot

FREMONT, Calif. (AP) _ Synnex Corp. (SNX) on Tuesday reported fiscal third-quarter net income of $123.1 million.

The Fremont, California-based company said it had profit of $2.40 per share. Earnings, adjusted for one-time gains and costs, were $3.30 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.86 per share.

The high-tech contractor posted revenue of $6.2 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $5.68 billion.

For the current quarter ending in November, Synnex expects its per-share earnings to range from $3.50 to $3.70.

The company said it expects revenue in the range of $5.85 billion to $6.15 billion for the fiscal fourth quarter.

Synnex shares have climbed 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $95.83, a climb of 4% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNX at https://www.zacks.com/ap/SNX