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Synnex: Fiscal 4Q Earnings Snapshot

FREMONT, Calif. (AP) _ Synnex Corp. (SNX) on Thursday reported fiscal fourth-quarter net income of $176 million.

On a per-share basis, the Fremont, California-based company said it had net income of $3.41. Earnings, adjusted for one-time gains and costs, came to $4.26 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.61 per share.

The high-tech contractor posted revenue of $6.58 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $6 billion.

For the year, the company reported profit of $500.7 million, or $9.74 per share. Revenue was reported as $23.76 billion.

For the current quarter ending in March, Synnex expects its per-share earnings to range from $3.03 to $3.22.

The company said it expects revenue in the range of $5.24 billion to $5.54 billion for the fiscal first quarter.

Synnex shares have increased slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $128.85, an increase of 51% 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