ScanSource sees record annual revenues, earnings

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.