Short answer
SCANSOURCE, INC. (SCSC) filed its Q3 2011 10-Q quarterly report on Nov 4, 2011 for the quarter ended Sep 30, 2011.
SCANSOURCE, INC. Q3 2011 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $770.3M, up 21.4% YoY from $634.5M, driven by North America and CDC acquisition
- Operating margin 4.1% vs 3.9% YoY; net margin 2.4% vs 2.5%; effective tax rate 34.5% vs 35.6%
- Best segment international gross margin 11.3% vs 10.9%; worst operating performance international income down 6.0% to $3.2M
- Cash $37.3M vs $28.7M; operating cash use $33.6M vs $19.2M; financing cash provided $46.5M
- Near-term headwinds: Eurozone debt crisis, competition, Brazil foreign-exchange loss $2.5M; new $300M facility completed October 11, 2011
Risk Factors
- No new 10-Q risk factors identified; filing carries forward 10-K risks without material-change disclosure
- CDC Brazil acquisition risk: contingent consideration liability $21.3M, with potential undiscounted payments up to $52.1M
- Regulatory and tax risk: CDC pre-acquisition contingencies estimated at $14.1M, with indemnity claims up to $22.9M
- Currency risk: foreign-exchange losses totaled $3.6M, while Brazilian-real earnout payments remain exposed to fluctuation
- Liquidity risk: $69.5M revolving-credit borrowings outstanding before October refinancing, including $24.6M classified current
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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