Synnex Reports Q1 Revenues Up 10 Percent

By Sharon Linsenbach  |  Print this article Print


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The company says the quarter is its 83rd consecutive profitable quarter. 

Synnex March 20 reported revenue for the first quarter of 2008 increased 10 percent to $1.75 billion from $1.59 billion in the first quarter of 2007.

Net income for the first quarter of 2008 grew to $16.8 million, or 51 cents per share, from $13.9 million, or 43 cents per share in the same quarter of the previous year. Company officials said it was the 83rd consecutive profitable quarter for Synnex.

The net income increase represents 21 percent net income growth from the first quarter of 2007, Synnex officials said.  Operating income for the first quarter increased to $32.8 million from $24.9 million in the first quarter of 2007. 

First-quarter gross profit was $95.9 million, up from $74.4 million in the first quarter of 2007.

Robert T. Huang, president and CEO, said in a statement he was pleased with the company's profitability and growth, and that Synnex remained committed to growing the company's earnings per share by 15 percent year over year.

Sharon Linsenbach Sharon Linsenbach is a staff writer for eWEEK and eWEEK Channel Insider. Prior to joining Ziff Davis, Sharon was Assistant Managing Editor for CRN, a weekly magazine for PC and technology resellers. Before joining CRN, Sharon was an Acquisitions Editor for The Coriolis Group and later, Editorial Director with Paraglyph Press, both in Scottsdale, AZ. She holds a BA in English from Drew University and lives in the Philadelphia suburbs with her significant other and two neurotic cats. When she's not reading or writing about technology, Sharon enjoys yoga, knitting, traveling and live music. Sharon can be reached at Sharon.Linsenbach@ziffdavisenterprise.com.

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