ScanSource Inc.'s (SCSC) second-quarter net income was $16.4 million, or $0.59 per share, compared to net income of $21.4 million or $0.77 per share in the prior year quarter.
Excluding the one-time costs associated with personnel replacement in the Company's local Belgian office, including related tax compliance and professional fees, adjusted net income for the latest-quarter totaled $17.8 million, or $0.64 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales decreased 4.5% to $747.7 million, compared to $782.7 million in the same quarter last year. Excluding the translation impact of foreign currencies, net sales decreased 3.1% year-over-year. Three analysts had consensus revenue estimate of $743.66 million for the quarter.
The company expects that net sales for the third-quarter ending March 31, 2013 could range from $675 million to $695 million, and earnings per share could be in the range of $0.48 to $0.50 per share. Analysts expect the company to report earnings of $0.62 per share on revenues of $731.77 million for the third-quarter.
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