Speciality distributor ScanSource has announced a record quarter. It follows the acquisition late last year of Europe's Imago a distributor of video and voice solutions. "Our two worldwide segments achieved very good sales results with 9% year-over-year net sales growth," said Mike Baur, CEO, ScanSource. "We are pleased to report that the acquisition of Imago has gone very well and contributed to the quarter’s excellent results."
Net sales for the quarter ended December 31, 2014 totalled $807.0m, a 9.0% increase over net sales of $740.6m for the quarter ended December 31, 2013. Excluding the translation impact of foreign currencies, net sales increased 11.1% year-over-year. The increase in net sales included the acquisition of Imago during September 2014.
Operating income for quarter ended December 31, 2014 totalled $26.0m, compared with $27.5m in the prior year quarter. Excluding adjustments, non-GAAP operating income for the quarter ended December 31, 2014 increased 1.7% over the prior year quarter to $29.4m from $28.9m.