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ScanSource fiscal Q2 profit climbs 26.7% YOY

ScanSource Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 78 cents per share, compared with the S&P Capital IQ consensus estimate of 76 cents per share.

EPS climbed 35.8% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.9 million, a gain of 26.7% from $16.5 million in the year-earlier period.

The normalized profit margin rose to 2.1% from 2.0% in the year-earlier period.

Total revenue grew 23.1% year over year to $993.5 million from $807.0 million, and total operating expenses rose 23.0% on an annual basis to $959.9 million from $780.6 million.

Reported net income rose 23.9% from the prior-year period to $20.7 million, or 77 cents per share, from $16.7 million, or 58 cents per share.