SYNNEX Corp. (SNX) Wednesday reported first-quarter profit of $33.40 million, down from $39.15 million in the comparable quarter last year.
Profit attributable to the company dropped to $33.4 million or $0.88 per share from $38.2 million or $1.02 per share in the comparable period last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.88 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $2.46 billion, essentially flat with last year. Analysts expected revenues of $2.44 billion.
Looking ahead to the second quarter, the company has forecast earnings in the range of $29.8 million to $31.0 million, or $0.78 to $0.82 per share. Revenues are expected in the order of $2.43 billion to $2.53 billion.
Analysts, based on consensus, currently expect the company to report second-quarter earnings of $0.92 per share on revenues of $2.51 billion.
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