• Most Popular
  • Most Shared

UPDATE 1-ScanSource forecasts Q4 sales above Wall Street view

Wed Jul 8, 2009 5:13pm EDT

Stocks

   

* 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)



More from Reuters

Photo

U.N. averts climate collapse by "noting" new deal

COPENHAGEN (Reuters) - U.N. climate talks avoided a total collapse on Saturday by skirting bitter opposition from several nations to a deal championed by the U.S. President Barack Obama and five emerging economies including China. | Video

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review