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ScanSource reports quarterly sales increase

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Greenville-based point-of-sale technology company ScanSource Inc. reports a fourth quarter net sales increase of 8% to $993.9 million. Organic sales growth, which excludes the impact from foreign currency translation and a recent acquisition, was 5%.

“We delivered outstanding fourth quarter sales and gross profit growth, capping a year of progress in executing our growth initiatives," said Mike Baur, ScanSource CEO, in a news release. "We want to congratulate our teams worldwide on achieving these excellent results. Investments we are making in our business are positioning us to accelerate our profitable growth."

Operating income decreased to $19.8 million largely as a result of increased expense for the change in fair value of the contingent consideration, the release said. For the full fiscal year 2018, net sales increased 8% to $3.8 billion. Operating income decreased to $67.6 million, due to additional expense for the change in the fair value of the contingent consideration.

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