SYNNEX Corporation (NYSE: SNX)
SNX ( SYNNEX ) previously reported financial results for the fiscal fourth quarter and year ended November 30, 2012.
Fiscal 2012 Fourth Quarter Highlights Included:
SNX ( SYNNEX ) revenue form Distribution was $2.72 billion, down 3% from the prior fiscal year quarter, due in part to a previously reported customer business transition starting within Q4 2011 from gross revenue to net fee for services, resulting in lower reported revenue in Q4 2012. Distribution income before non-operating items, income taxes and noncontrolling interest was $70.4 million, or 2.59% of distribution revenue compared with $81.1 million, or 2.89% in the prior fiscal year quarter. As previously reported, the fiscal 2011 fourth quarter included a very significant gross margin benefit resulting from shortages of hard disk drives.
SNX ( SYNNEX ) revenue form Global Business Services (GBS) grew to $54.9 million, an increase of 22.2% over the prior fiscal year quarter. GBS income before non-operating items, income taxes and noncontrolling interest was $4.3 million, or 7.89% of GBS revenue compared with $3.6 million, or 8.11% in the prior fiscal year quarter.
SYNNEX Corporation (NYSE: SNX), a Fortune 500 corporation, is a leading business process services company, servicing resellers, retailers and original equipment manufacturers in multiple regions around the world. The Company provides services in IT distribution, supply chain management, contract assembly and business process outsourcing. Founded in 1980, SYNNEX employs approximately 11,000 full-time and part-time associates worldwide. Additional information about SYNNEX may be found online at www.synnex.com.
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