Stock Monitor: IHS Markit Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 18, 2018 / Active-Investors.com has just released a free earnings report on SYNNEX Corp. (NYSE: SNX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SNX. The Company posted its financial results on January 09, 2018 for the fourth quarter fiscal 2017. The business process services Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, SYNNEX most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For three months ended November 30, 2017, SYNNEX's total revenue increased 36.7% to $5.31 billion from $3.89 billion in Q4 FY16. The Company's total revenue surpassed analysts' expectations of $4.87 billion.
For the reported quarter, the Company's gross profit increased 22% to $461.97 million from $378.79 million in Q4 FY16. For the reported quarter, the Company's gross margin decreased 100 basis points to 8.7% of revenue from 9.7% of revenue in Q4 FY16.
For the reported quarter, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 22.4% to $214.59 million from $175.34 million in Q4 FY16. For the reported quarter, the Company's adjusted EBITDA margin decreased 50 basis points to 4% of revenue from 4.5% of revenue in Q4 FY16.
During Q4 FY17, SYNNEX's operating income increased 22.4% to $159.86 million from $130.64 million in Q4 FY16. For the reported quarter, the Company's operating margin decreased 40 basis points to 3.0% of revenue from 3.4% of revenue in Q4 FY16. For the reported quarter, the Company's adjusted operating margin decreased 40 basis points to 3.6% of revenue from 4.0% of revenue in Q4 FY16.
During Q4 FY17, SYNNEX's earnings before tax (EBT) increased 15% to $141.20 million from $122.75 million in the same period last year. For the reported quarter, the Company's EBT margin decreased 50 basis points to 2.7% of revenue from 3.2% of revenue in Q4 FY16.
For the reported quarter, SYNNEX's net income increased 6.7% to $91.07 million on a y-o-y basis from $85.32 million in Q4 FY16. During Q4 FY17, the Company's diluted EPS increased 6.1% to $2.26 on a y-o-y basis from $2.13 in the same period last year. For the reported quarter, SYNNEX's adjusted net income increased 9.2% to $112.44 million on a y-o-y basis from $102.94 million in Q4 FY16. During Q4 FY17, the Company's adjusted diluted EPS increased 8.6% to $2.79 on a y-o-y basis from $2.57 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $2.69.
SYNNEX's Segment Details
Technology Solutions - During Q4 FY17, the Technology Solutions segment's revenue surged 41% to $4.78 billion from $3.39 billion in the same period last year. For the reported quarter, the segment's operating margin decreased 30 basis points to 2.4% of revenue from 2.7% of revenue in Q4 FY16. For the reported quarter, the segment's adjusted operating margin decreased 10 basis points to 2.7% of revenue from 2.8% of revenue in Q4 FY16.
Concentrix - During Q4 FY17, the Concentrix segment's revenue increased 6.8% to $534.36 million from $500.40 million in the same period last year. For the reported quarter, the segment's operating margin increased 130 basis points to 8.9% of revenue from 7.6% of revenue in Q4 FY16. For the reported quarter, the segment's adjusted operating margin decreased 50 basis points to 12.1% of revenue from 12.6% of revenue in Q4 FY16.
Balance Sheet
As on November 30, 2017, SYNNEX's cash and cash equivalents surged 44.6% to $550.69 million from $380.72 million on November 30, 2016. For the reported quarter, the Company's long-term borrowings increased 89% to $1.14 billion from $601.10 million in Q4 FY16.
For the reported quarter, the Company's net accounts receivable increased 62% to $2.85 billion from $1.76 billion in Q4 FY16. For the reported quarter, the Company's accounts payable increased 56.1% to $2.63 billion from $1.68 billion in Q4 FY16.
On January 09, 2018, the Company's Board of Directors declared a quarterly cash dividend of $0.35 per common share, payable on January 31, 2018, to stockholders of record as of the close of business on January 19, 2018.
Outlook
For Q1 FY18, the Company expects revenue to be in the range of $4.35 billion to $4.55 billion and estimates net income to be in the range of $64 million to $67.8 million and diluted EPS to be in the range of $1.58 to $1.68.
The Company estimates adjusted net income to be in the range of $83.2 million to $87 million and adjusted diluted EPS to be in the band of $2.06 to $2.15 for Q1 FY18.
Stock Performance Snapshot
January 17, 2018 - At Wednesday's closing bell, SYNNEX's stock slightly declined 0.77%, ending the trading session at $134.70.
Volume traded for the day: 456.11 thousand shares, which was above the 3-month average volume of 184.32 thousand shares.
Stock performance in the last month - up 2.79%; previous three-month period - up 1.73%; past six-month period - up 12.20%; and last twelve-month period - up 9.91%
After yesterday's close, SYNNEX's market cap was at $5.43 billion.
Price to Earnings (P/E) ratio was at 18.18.
The stock has a dividend yield of 0.89%.
The stock is part of the Services sector, categorized under the Business Services industry. This sector was up 0.6% at the end of the session.
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