UPDATE 1-ScanSource forecasts Q4 sales above Wall Street view

Wed Jul 8, 2009 5:13pm EDT
 
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* Sees Q4 sales of $434 mln to $442 mln

* Shares up 9 pct

July 8 (Reuters) - Technology distributor ScanSource Inc (SCSC.O) forecast fourth-quarter sales above Wall Street expectations, sending its shares up 9 percent.

ScanSource expects sales of $434 million to $442 million for the fourth quarter ended June 30, compared with $554 million a year earlier.

Analysts on average were expecting revenue of $409.4 million, according to Reuters Estimates.

Another electronic components distributor, Nu Horizons Electronics Corp (NUHC.O), posted first-quarter sales of $147.8 million, a drop of 26 percent from the year-ago period. [ID:nWNAB5401]

Shares of Greenville, South Carolina-based ScanSource were trading at $26.50 in after-hours trade. They closed at $24.27 Wednesday on Nasdaq. (Reporting by Shrutika Verma in Bangalore; Editing by Unnikrishnan Nair)

 

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