ScanSource narrowly missed out on its first $1bn quarter as a string of acquisitions propelled revenues tantalisingly close to the magic marker in its fiscal Q2.
Revenues for the three months ending 31 December jumped 23 per cent year on year to $994m as its recent acquisitions of Imago, Network1 and KBZ fed into the top line.
GAAP net profit also flew up 23 per cent to $20.7m.
ScanSource CEO Mike Baur said quarterly sales had topped expectations due to large deals within its Barcode and Security business, which saw quarterly sales rise 26 per cent to $690m.
Sales at its Worldwide Communications and Services arm rose 17 per cent to $304m.
Stripping out the effects of acquisitions and currency fluctuations, Barcode and Security grew eight per cent and Worldwide Communications and Services fell 0.5 per cent.
Across the business, NASDAQ-listed ScanSource claims to provide solutions from more than 300 vendors and sell to about 35,000 resellers in the US, Canada, Latin America and Europe.
The recent acquisition of UK videoconferencing distributor Imago is paying dividends, Baur claimed.
"In Europe, we had better results from the integration of our Europe communications business and our Imago business," he said on a conference call, a transcript of which can be found here.
"This led to record sales results in local currency. The combination of the businesses allows us to achieve critical mass and growing profitability, as we expand our business to meet customer demand."
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