Scansource (SCSC) FY2022 results: revenue $3.5 billion, up 12.0% on the year

Scansource, Inc. (SCSC) reported revenue of $3.5 billion for fiscal 2022, the year ended 30 June 2022, up 12.0% on the year before. Net income was $89 million, up 722.6%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 23 August 2022.

Revenue

$3.5 billion

+12.0% on the year

FY2015FY2022

Operating margin

3.5%

2.0% a year earlier

FY2015FY2022

Net income

$89 million

+722.6% on the year

FY2015FY2022

Diluted EPS

$3.45

+721.4% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	3,530	3,151	3,048	+12.0%
Cost of revenue	3,103	2,800	2,692	+10.8%
Gross profit	427	351	356	+21.6%
Gross margin	12.1%	11.1%	11.7%
Selling, general and administrative	275	247	260	+11.3%
Operating income	122	61.5	-65.0	+98.7%
Operating margin	3.5%	2.0%	-2.1%
Interest expense	6.5	6.9	12.2	-5.9%
Pre-tax income	119	57.5	-71.8	+106.2%
Income tax	29.9	12.1	7.5	+146.4%
Effective tax rate	25.2%	21.1%	n/a
Net income	88.8	10.8	-193	+722.6%
Net margin	2.5%	0.3%	-6.3%
Diluted EPS	$3.45	$0.42	-$7.59	+721.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	-124	141	226
Capital expenditure	6.8	2.4	6.4	+189.8%
Free cash flow	-131	139	220
Free cash flow margin	-3.7%	4.4%	7.2%
Depreciation and amortisation	29.9	33.5	35.3	-10.8%
Share-based compensation	11.7	8.0	5.5	+45.1%
Buybacks	18.2	0.0	6.1
Diluted shares, weighted	26m	26m	25m	+0.9%
Shares outstanding at period end	25m	25m	25m	-1.2%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	807	731	678	+10.3%
Debt	271	143	219	+89.4%
Operating lease liabilities	13.1	16.6	20.8	-20.9%
Other liabilities	847	781	774	+8.4%
Total liabilities and equity	1,937	1,672	1,692	+15.9%
Fixed assets	37.5	42.8	55.6	-12.5%
Goodwill	214	219	214	-2.0%
Intangible assets	84.4	105	122	-19.5%
Cash and equivalents	38.0	62.7	29.5	-39.4%
Receivables	729	569	443	+28.2%
Inventory	615	470	455	+30.8%
Other assets	219	203	373	+7.6%
Total assets	1,937	1,672	1,692	+15.9%

10-K for the year ended 30 June 2022, filed 23 August 2022: the filing.