Synnex Reports Earnings
Synnex, a distributor whose NEXCE division focuses on consumer electronics, reported fourth quarter revenues of $1.97 billion, a 13.4 percent increase over the company’s Q4 revenues of $1.74 billion in 2006.
The company reported Q4 net income of $20.2 million, or 61 cents per diluted share, compared with $1.56 million or 48 cents during last year’s quarter.
Revenue for the fiscal year ended November 30 increased 10.4 percent to $7 billion, compared to $6.34 billion for the 2006 fiscal year. Net income for the year increased 22.9 percent to $63 million, or $1.93 per diluted share, compared to $51.4 billion, or $1.61 per diluted share for fiscal 2006.