ScanSource Inc., (NYSE: SCSC), Greenville, S.C., a hybrid distributor connecting devices to the cloud, reported sales for its fiscal 2022 fourth quarter were $962.3 million, up 12.9% from the prior-year period.
Net profit for the quarter was $110.8 million, up 15.7% from the prior-year period. ScanSource also reported that sales for its fiscal 2022 year were $3.53 billion, up 12% from the prior year.
Sales in the Specialty Technology Solutions segment increased 12.6% in the fourth quarter from the prior-year period to $580.6 million. Sales in the Modern Communication and Cloud segment increased 13.2% to $381.7, from the prior-year period.
“Our exceptional fiscal year 2022 results demonstrate the success of the new ScanSource and faster growth of our recurring revenue,” said Mike Baur, Chairman and CEO. “Our hybrid distribution strategy of devices and digital is winning, as evidenced by our 12% net sales growth.”