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Synnex: Fiscal 4Q Earnings Snapshot

January 11, 2021 GMT

FREMONT, Calif. (AP) _ Synnex Corp. (SNX) on Monday reported fiscal fourth-quarter profit of $215.2 million.

On a per-share basis, the Fremont, California-based company said it had profit of $4.14. Earnings, adjusted for one-time gains and costs, came to $5.21 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.83 per share.

The high-tech contractor posted revenue of $7.41 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $6.57 billion.

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For the year, the company reported profit of $529.2 million, or $10.21 per share. Revenue was reported as $24.68 billion.

For the current quarter ending in March, Synnex expects its per-share earnings to range from $1.55 to $1.75.

The company said it expects revenue in the range of $4.5 billion to $4.8 billion for the fiscal first quarter.

Synnex shares have risen almost 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $87.69, a decrease of 32% in the last 12 months.

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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