ScanSource sees record annual revenues, earnings

Company’s net sales increased by more than 26 percent during the 2011 fiscal year

Security products distributor ScanSource announced this week that it saw record annual revenues and earnings for its 2011 fiscal year.

According to a statement, the company’s net sales increased $552 million or 26.1 percent to 2.7 billion from the prior fiscal year, which ended on June 30. Net income increased 50.6 percent to $73.5 million compared to $48.8 million from the prior fiscal year.

"ScanSource delivered record results in a tough economy by focusing on our core competencies and taking market share," said Mike Baur, the company’s CEO. "All of our business units performed exceptionally well, with the strongest year-over-year growth in our International segment."

The company said it expects net revenues for the first quarter of its 2012 fiscal year to range between $730 million and $750 million.