* Q3 EPS $0.86 vs est $0.74; rev rises 9 pct
* Sees Q4 EPS $0.94-$0.97 vs est $0.88
* Sees Q4 rev $2.30-$2.40 bln vs est $2.32 bln
* Says N American demand to be stable in Q4
* Shares rise 5 pct in extended trade
Sept 29 Technology distributor Synnex Corp
(SNX.N) posted strong third-quarter results that beat market
expectations, helped by increased demand and a mix of
higher-margin products and services, and forecast a relatively
stable North American demand in the fourth quarter.
Shares of the company rose 5 percent in after-market trade
Synnex, which competes with Arrow Electronics (ARW.N),
Avnet (AVT.N), Tech Data (TECD.O) and Ingram Micro IM.N in
the information technology product distribution market, said
the fourth-quarter demand is expected to be in line with normal
The company expects to earn 94-97 cents per share for the
fourth quarter, on revenue of $2.30-$2.40 billion.
Analysts on average were expecting earnings of 88 cents a
share, on revenue of $2.32 billion, according to Thomson
For the June-August quarter, net income attributable to the
company was $30.9 million, or 86 cents a share, compared with
$22.5 million, or 65 cents a share, a year ago.
Net revenue rose 9 percent to $2.18 billion. Revenue from
continuing operations of distribution segment was up 9 percent
at $2.15 billion, while that from Global Business Services
jumped 22 percent.
Analysts on average had expected earnings of 74 cents a
share, on revenue of $2.11 billion for the third quarter.
Shares of the Fremont, California-based company, which have
gained more than 11 percent in the past one month when most of
the technology distributers saw improved demand, rose 5 percent
in trading after the bell. They closed at $25.90 in regular
trading on the New York Stock Exchange.
(Reporting by Swati Chitnis in Bangalore; Editing by Gopakumar