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SYNNEX Corporation (NYSE: SNX) Reports 2017 Q4 & Full Year Results! Westcon-Comstor Acquisition Complete.

SYNNEX Corporation (NYSE: SNX), a leading business process services company, reported their 2017 Q4 and full-year results yesterday, January 9, 2018.

Synnex distributes more than 30,000 technology products from more than 300 of the world’s leading and emerging manufacturers and provides complete solutions to more than 20,000 resellers and retail customers in the U.S., Canada, and Japan. The company recently completed the acquisition of Westcon-Comstor North America and Latin America.

Synnex Corporation's reporting segments include Technology Solutions & Concetrix.

Technology Solutions Revenue is up $4,781 Million, an increase of 41.0% from the prior fiscal year quarter!  Due to the Westcon-Comstor acquisition and the translation effect of foreign currencies, the Technology Solutions business grew by 22.0% over the prior year. Technology Solutions generated operating income of $112.2 million, or 2.35% of segment revenue, and a 20% YOY growth.  



 

Concentrix Revenue was $534.4 Million, a 6.8% YOY. Adjusting for the translation effect of foreign currencies, Concentrix revenue increased by 5.8% over the prior year. Operating income was $47.6 million, or 8.91% of segment revenue.



 

Synnex ended with a successful year, a record financial performance, along with a high demand in both segments. Strategic acquisitions made in 2017 helped grow the market share and created leverage the company needed to deliver such results. We will all be waiting to see if Synnex Corporation can top these results in 2018.

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