SYNNEX Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended of November 30, 2017; Provides Earnings Guidance for the First Quarter Ending February 28, 2018
January 09, 2018 at 04:15 pm EST
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SYNNEX Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended of November 30, 2017. For the quarter, the company reported total revenue of $5,311,877,000 compared to $3,886,902,000 a year ago. Operating income was $159,860,000 compared to $130,642,000 a year ago. Income before income taxes was $141,199,000 compared to $122,750,000 a year ago. Net income attributable to the company was $91,073,000 or $2.26 per diluted share compared to $85,318,000 or $2.13 per diluted share a year ago. Adjusted EBITDA was $214,588,000 compared to $175,342,000 a year ago. Non-GAAP net income attributable to the company's common stockholders was $111,410,000 or $2.79 per diluted share compared to $101,927,000 or $2.57 per diluted share a year ago. Non-GAAP operating income was $192,941,000 compared to $156,088,000 a year ago.
For the year, the company reported total revenue of $17,045,700,000 compared to $14,061,837,000 a year ago. Operating income was $508,965,000 compared to $379,596,000 a year ago. Income before income taxes was $464,731,000 compared to $356,064,000 a year ago. Net income attributable to the company was $301,173,000 or $7.51 per diluted share compared to $234,946,000 or $5.88 per diluted share a year ago. Adjusted EBITDA was $673,632,000 compared to $515,537,000 a year ago. Non-GAAP net income attributable to the company's common stockholders was $352,303,000 or $8.86 per diluted share compared to $278,353,000 or $7.04 per diluted share a year ago. Non-GAAP operating income was $592,927,000 compared to $449,734,000 a year ago. Cash generated from operations was approximately $170 million for the year.
The company provided earnings guidance for the first quarter ending February 28, 2018. For the quarter, the company expects revenue to be in the range of $4.35 billion to $4.55 billion. Net income is expected to be in the range of $64.0 million to $67.8 million and on a Non-GAAP basis net income is expected to be in the range of $83.2 million to $87.0 million. Diluted earnings per share are expected to be in the range of $1.58 to $1.68 and on a Non-GAAP basis diluted earnings per share is expected to be in the range of $2.06 to $2.15. The tax rate is expected to be in the range of 30% to 31%.
TD Synnex Corporation is a global distributor and solutions aggregator for the information technology (IT) ecosystem. The Company's two primary solution portfolios include Endpoint Solutions and Advanced Solutions which are comprised of Endpoint Solutions Portfolio and Advanced Solutions Portfolio. Its Endpoint Solutions portfolio primarily includes personal computer (PC) systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software and consumer electronics. Its Advanced Solutions portfolio primarily includes data center technologies such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure. Its Advanced Solutions portfolio also includes specialized solution businesses. It offers services, such as systems design and integration solutions, logistics services, online services, and financial services. Its geographical segments include the Americas, Europe and Asia-Pacific and Japan (APJ).
SYNNEX Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended of November 30, 2017; Provides Earnings Guidance for the First Quarter Ending February 28, 2018