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Synnex Profits Fall 4.9%

|Includes:SYNNEX Corporation (SNX)

Originally published at www.seclive.com

Filing in Focus: Synnex 8-K, January 9, 2014

Synnex Corp. (NYSE:SNX) announced its financial results for the fourth quarter and full fiscal year 2013, reporting quarterly profits that fell 4.9%. The computer technology distributor reports distribution revenue increases of 11% to $3.01B while its global-business services increased 11% to $61M, resulting in an overall revenue increase of 11% to $3.06B. The company's profit decreased from $43.6M and $1.16 per share a year ago to $41.5M and $1.10 per share this quarter. The company's financial results exceeded revenue predictions but fell short on earnings per share. In Filings Digest September 11, it was reported that Synnex would acquire IBM's customer care business, which is expected to close this quarter.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: SNX