ScanSource names Gerald (Gerry) Lyons as Executive Vice President and Chief Financial Officer

Greenville, SC, 2017-Aug-28 — /EPR Retail News/ — ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, is pleased to announce the appointment of Gerald (Gerry) Lyons as Executive Vice President and Chief Financial Officer effective August 23, 2017.  Since November 2016, Lyons has served as ScanSource’s Senior Vice President and Interim Chief Financial Officer with responsibility for leading ScanSource’s worldwide finance teams.

“We are excited to have Gerry take on the CFO role after successfully serving as interim CFO for the past nine months,” said Mike Baur, Chief Executive Officer, ScanSource, Inc.  “Gerry’s proven leadership and deep knowledge of ScanSource will serve ScanSource well as we continue to grow our business and deliver profitable growth.”

“I am extremely excited and humbled to have the opportunity to head our financial teams and be part of such a strong and capable leadership team,” said Lyons.

Lyons joined ScanSource in 2007 and has worked in several financial management roles, including Principal Accounting Officer, Corporate Controller, and Vice President, Financial Business Systems, where he was actively involved in the implementation, management, and oversight of ScanSource’s financial systems and processes.  Prior to joining ScanSource, Lyons served as the Plant Controller, Global Group Controller, and Plant Manager for Moen Incorporated.  He holds a Masters of Business Administration degree from Cleveland State University and Bachelor of Science in Financial Management from Clemson University.

For more information about ScanSource, please visit www.scansource.com.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its customers choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2017 Best Places to Work in South Carolina. ScanSource ranks #647 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Melissa Andrews
Title: Public Relations Manager
Phone: 864.286.4425

Source: ScanSource

ScanSource POS and Barcode announce PASS Program; simplifies the payments hardware process for resellers and their customers

Greenville, SC, 2017-Aug-11 — /EPR Retail News/ — ScanSource POS and Barcode, the leading global provider of automatic identification and data capture (AIDC) and point-of-sale (POS) solutions, and a business unit of ScanSource, Inc. (NASDAQ: SCSC), has announced its PASS Program, which simplifies the payments hardware process for resellers and their customers. ScanSource created this program in conjunction with POS Portal, a leading distributor of payment devices and services, whom ScanSource recently acquired.

The PASS program simplifies the process of adding payment terminals to resellers’ offerings so that they can supply a total solutions package for their customers. Once a complete solution is sold, ScanSource resellers can then refer customers to POS Portal to further establish customer needs. A Payments Device Specialist will then contact customers directly to match their solutions with certified configurations, sell hardware that is already configured and ready to use upon shipment, and field service and support calls. Further, for every device sold to an end user, resellers will receive a one-time commission.

“Payments hardware is not always easy – getting a customer set up often requires secure environments and strict protocols, but our PASS Program helps resellers find the right products and expertise to ensure a seamless process,” said Paul Constantine, Co-President, Worldwide Barcode, Networking and Security for ScanSource, Inc. “We’re happy to offer this new program to our resellers in order to supply the best possible payments assistance.”

“At InterDyn BMI, we consider POS Portal to be a member of our own retail team,” said Ashley Gallegos with InterDyn BMI, a POS Portal customer. “When referring clients to POS Portal, we can always trust that they will be treated with the same professionalism and care that we would give them ourselves, and we appreciate that POS Portal walks the customer through the complex process of configuring devices, configures those devices correctly, and ships them quickly – all at a reasonable price.”

“The PASS program eases the pain of managing and supporting credit card terminals, giving resellers a direct and knowledgeable resource to turn to for their terminal support and configuration,” said Buzz Stryker, CEO, POS Portal. “The program was designed to help free up resellers’ time so that they can focus on their core business.”

With the PASS program, resellers can dedicate their time to signing new customers, instead of deciphering payments hardware problems. As each customer has differing hardware needs, the PASS program offers hundreds of pre-certified solutions available to deploy quickly and ready to work upon arrival. To learn more, and for additional information regarding the PASS Program, please visit www.scansourceposbarcode.com.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2017 Best Places to Work in South Carolina. ScanSource ranks #647 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Melissa Andrews
Title: Public Relations Manager
Phone: 864.286.4425

Source: ScanSource, Inc.

ScanSource to host Q4 and FY 2017 earnings conference call on Tuesday, August 29, 2017

Greenville, SC, 2017-Aug-11 — /EPR Retail News/ — ScanSource, Inc., (NASDAQ: SCSC), a leading global provider of technology products and solutions, announced today (August 10, 2017) that it plans to release fourth quarter and fiscal year 2017 results for the period ended June 30, 2017 on Tuesday, August 29, 2017 at approximately 4:00 p.m. ET.  ScanSource management will host an earnings conference call to discuss these results later that day, August 29, 2017, at 5:00 p.m. ET.

The earnings conference call may be accessed here. A replay of the webcast will be available at www.scansource.com for 60 days.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2017 Best Places to Work in South Carolina. ScanSource ranks #647 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Mary Gentry
Title: Vice President, Treasurer and Investor Relations
Phone: 864.286.4892

Source: ScanSource, Inc.

ScanSource to acquire leading distributor of payment devices and services POS Portal

Greenville, SC – Worldwide Headquarters, 2017-Jul-04 — /EPR Retail News/ —ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today ( June 29, 2017) announced a definitive agreement to acquire POS Portal, a leading distributor of payment devices and services primarily to the SMB market segment. POS Portal brings 17 years of demonstrated success focused solely on the US payments industry channels.

Together, ScanSource and POS Portal will create the industry’s largest payments channel, ensuring customers have access to the solutions, services and support that can help them be successful. The two companies sell through complementary solution delivery channels with little customer overlap. ScanSource primarily serves the enterprise and mid-market merchant segments, with thousands of POS value-added resellers (VARs) and system integrators as customers.  POS Portal reaches the SMB merchant segment via strong relationships with the leading payment processors, independent sales organizations (ISOs) and many of the leading tablet-based POS software developers. Both companies’ existing customers will benefit; POS Portal’s customers will gain access to ScanSource’s larger portfolio of POS offerings, and ScanSource’s reseller customers will have access to additional services from POS Portal.

For the first full year after closing, POS Portal net sales are estimated to total approximately $110 million with an estimated EBITDA margin in the low teens. Under the agreement, the all-cash transaction includes an initial purchase price of approximately $144.9 million, plus an earn-out payment up to $13.2 million to be made on November 30, 2017. The earn-out payment is based on earnings before interest expense, taxes, depreciation and amortization (EBITDA) for the trailing twelve months (TTM) ending September 30, 2017. The acquisition is expected to be accretive to earnings per share in the first year after acquisition, excluding one-time acquisition costs.

The acquisition of POS Portal uniquely positions ScanSource as a market leader in both the POS and payments channels,” said Mike Baur, CEO ScanSource, Inc. “POS Portal brings an excellent customer service reputation, highly regarded value-added services, and vast knowledge of the payments industry. Together, we will provide greater business opportunities for our solution delivery channels. The tremendous culture fit between POS Portal and ScanSource will be exciting for our employees and customers.”

“ScanSource has been following our growth and strategy for a few years and saw the opportunity to expand our business model,” said Buzz Stryker, co-founder and CEO, POS Portal.  “As the payments channels converge, we and ScanSource are prepared to lead the channel with new services and solutions, and accelerate our strategic plan to provide the shopping and checkout infrastructure to tomorrow’s physical location merchant, in partnership with the channel.  We have a common vision for POS Portal to continue to innovate with suppliers, customers, and partners and advance our leading systems and processes.”

Mr. Stryker and Scott Agatep, Chief Operating Officer, along with the POS Portal team, will join ScanSource and provide the leadership and direction in further developing the ScanSource payments business. Upon completion of the transaction, POS Portal will become part of the Worldwide Barcode, Networking and Security segment of ScanSource.

Founded in 2000 and based in Sacramento, California, POS Portal offers its resellers payment terminals, comprehensive key injection services, reseller partner branding, extensive encryption key libraries, ability to provide P2PE encryption, and redundant key injection facilities. In addition, POS Portal partners with ISVs to deliver merchants integrated tablet POS solution hardware that merchants may purchase outright or “as a service” through Portal Advantage, which includes POS Portal’s SalesGuard service program.  SalesGuard coverage provides the merchant hardware support and next-day replacement of tablets, terminals, and peripherals. POS Portal has approximately 180 employees and operates in the United States.

The acquisition is expected to close in the quarter ending September 30, 2017, subject to the satisfaction of customary closing conditions and receipt of regulatory approvals. Prior to the close, ScanSource and POS Portal will continue to operate as independent companies.

Safe Harbor Statement

This press release includes forward-looking statements, including statements regarding POS Portal’s expected net sales and estimated EBITDA margin, its expected impact on ScanSource’s (“the Company”) earnings per share, expectations for POS Portal’s future, and expectations with respect to closing. Actual results may differ materially from those suggested by these statements for a range of reasons, including changes in pricing and costs for POS Portal’s services, the loss of customers, competitive responses and difficulties in integrating POS Portal’s business into the Company’s business. For additional factors, see the Company’s Form 10-K for the year ended June 30, 2016, and its subsequent Form 10-Qs, all as filed with the SEC. The Company disclaims any obligation to update forward-looking statements other than as required by law.

Non-GAAP Financial Information

In addition to disclosing results that are determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”), the Company also discloses certain non-GAAP financial measures, which are summarized below.  Non-GAAP financial measures are used to better understand and evaluate performance, including comparisons from period to period. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration and acquisition costs.

Non-GAAP EBITDA MARGIN: To evaluate this acquisition, the Company considered non-GAAP EBITDA margin percentages. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in the fair value of contingent consideration, and other non-GAAP adjustments.

Non-GAAP financial measures have limitations as analytical tools, and the non-GAAP financial measures that the Company reports may not be comparable to similarly titled amounts reported by other companies.  Analysis of results and outlook on a non-GAAP basis should be considered in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with GAAP.

About POS Portal

Since 2000, POS Portal has been changing the payments industry. As a leading distributor of credit card terminals and supplies, POS Portal is pioneering the way in logistics and distribution for secure payment devices. Having one of the most extensive libraries of injection keys and over 15 years of strategic relationships with gateways, processors, and terminal OEMs, POS Portal has the resources needed to always deliver secure devices preconfigured just the way our partners need them. With two Key Injection Facilities (KIF), POS Portal deploys devices to businesses nationwide. At POS Portal, we’re committed to providing exceptional service to the point-of-sale industry through mutually beneficial, long-lasting relationship. For additional information, please visit posportal.com or call 1-866-940-4POS (4767).

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2017 Best Places to Work in South Carolina. ScanSource ranks #647 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Melissa Andrews
Title: Manager, Worldwide Public Relations
Phone: 864.286.4425

Source: ScanSource, Inc.

ScanSource and Intelisys executives named to 2017 CRN® Women of the Channel list

Greenville, SC, 2017-May-18 — /EPR Retail News/ — ScanSource Communications, a leading global provider of communications products and a sales unit of ScanSource, Inc., and Intelisys Inc., a ScanSource company and the nation’s leading Technology Services Distributor, announced today (May 16, 2017) that CRN®, a brand of The Channel Company, has named five leaders to its prestigious 2017 Women of the Channel list:

  • Carol Beering, Senior Vice President, Sales Operations, Intelisys
  • Yvette McKenzie, Vice President of Merchandising, ScanSource Communications
  • Stacey Pompei, Vice President, Supplier Management & General Counsel, Intelisys
  • Samantha Zuniga-Juarez, Director of Support Services, West and Central Region, Intelisys
  • Diane Frazzetta, Director of Support Services, East Region, Intelisys

The executives who comprise this annual list span the IT channel, representing vendors, distributors, solution providers and other organizations that figure prominently in the channel ecosystem. Each is recognized for her outstanding leadership, vision and unique role in driving channel growth and innovation.

CRN editors select the Women of the Channel honorees based on their professional accomplishments, demonstrated expertise and ongoing dedication to the IT channel.

Ms. McKenzie was named Vice President of Merchandising for ScanSource Communications in 2017, where she manages, supports and cultivates supplier relationships. She has been with ScanSource for more than 16 years, having served in various management and senior executive roles in North America, including Vice President of Merchandising for ScanSource POS and Barcode. Prior to her current role, Ms. McKenzie spent more than three years working in ScanSource’s Latin America business unit, where she served as Vice President of Operations, interim business unit President and Vice President of Merchandising for the POS and Barcode business unit in Miami and Mexico.  During her time at ScanSource, Ms. McKenzie has managed the launch and support of strategic vendors, overseen channel marketing strategies, helped to integrate business practices in multiple geographies, implemented high-level branding campaigns and developed strategic training programs for merchandising.

“Yvette has been instrumental to the continued growth of ScanSource, with her career spanning technologies and geographies,” said Rich Long, president of ScanSource Communications. “Her extensive channel relationships, as well as her ability to develop new programs and tools for our partners play an integral role in the ScanSource Communications business unit. We are very pleased that she has been recognized by CRN for her hard work and dedication to the ScanSource team.”

Acquired by ScanSource in 2016, Intelisys is home to a culture of performance that honors the Sales Partner community it supports. On a wall at the company’s Petaluma, CA, headquarters appear the words, “The Best of the Best Supporting the Best of the Best”. The efforts and contributions of these four women are simultaneously exceptional and commonplace in an environment wholly dedicated to supporting the community that ultimately makes each of their roles possible.

“From Carol, our SVP, Sales Operations, to Stacey, Samantha and Diane, the most senior Supplier and Sales Partner support positions—all are women who work diligently together to answer the needs and support the demands of our Sales Partners as they grow their businesses,” said Rick Dellar, Intelisys Co-Founder. “Each of these women is an incredible asset to Intelisys and our Partner community, and role model within the industry. We are pleased that their leadership and dedication to the channel has been recognized by CRN.”

Ms. Beering joined Intelisys in 2003. In her role as Senior Vice President, Sales Operations, Carol is responsible for the systems and structures that support Intelisys’ Sales Partners and Supplier Partners, as well as the Order Management and Audex teams. In her role, she oversees the Supplier Management, Partner Support, Sales Administration and Information Services departments, among other strategic and key initiatives.

Reporting directly to Beering, is Ms. Pompei, who after a 14-year partnership as corporate attorney for Intelisys and other sales entities took on the dual role of Vice President, Supplier Management & General Counsel, in 2015 with Intelisys.

Ms. Zuniga-Juarez, Director of Partner Support Services, West and Central Regions, joined Intelisys in 2003; and Ms. Frazzetta, Director of Support Services, East Region, joined Intelisys in 2014. Both women are responsible for monitoring and assuring the effectiveness of the overall partner experience for Intelisys Sales Partners, and also report to Carol Beering.

“These extraordinary executives support every aspect of the channel ecosystem, from technical innovation to marketing to business development, working tirelessly to keep the channel moving into the future,” said Robert Faletra, CEO of The Channel Company “They are creating and elevating channel partner programs, developing fresh go-to-market strategies, strengthening the channel’s network of partnerships and building creative new IT solutions, among many other contributions. We congratulate all the 2017 Women of the Channel on their stellar accomplishments and look forward to their future success.”

The 2017 Women of the Channel list will be featured in the June issue of CRN Magazine and online at www.CRN.com/wotc.

About Intelisys

Intelisys, a ScanSource company, is the nation’s leading Technology Services Distributor of business communications services, including voice, data, access, cable, collaboration, wireless and cloud. Intelisys is dedicated to one thing – serving the needs and accelerating the success of the industry’s top producing telecom sales agents, IT Solution Providers, VARs, MSPs and integrators, as they leverage the power of recurring revenue in their businesses.

Today Intelisys is leading the way as its Sales Partners make the pivot and experience the shift away from traditional telco services into a new era of cloud-based solutions. Under contract with more than 130 of the world’s leading telecom carriers, cloud services providers and technology partners, Intelisys delivers the services end users demand exclusively through a network of Sales Partners, supporting those Sales Partners via the most exceptional back office support team ever assembled in the channel. To learn more, visit www.Intelisys.com or talk to Intelisys at 800-615-8330.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale, barcode, physical security, video, voice, data networking and technology services.  ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking and Security and Worldwide Communications and Services. ScanSource is committed to helping its resellers and sales partners choose, configure, and deliver the industry’s best solutions across almost every vertical market in North America, Latin America, and Europe.  In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, ScanSource is headquartered in Greenville, South Carolina and was named one of the 2016 Best Places to Work in South Carolina. ScanSource ranks #685 on the Fortune 1000. For more information, please visit www.scansource.com.

About the Channel Company

The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequaled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelco.com

Contact:

Melissa Andrews
Public Relations Manager
Phone: 864.286.4425

Source: ScanSource, Inc.

ScanSource reports of 2% net sales increase during 3Q FY2017 compared to the prior year quarter

Greenville, SC, 2017-May-10 — /EPR Retail News/ — ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today ( May 09, 2017) announced financial results for the third quarter of its fiscal year 2017, which ended March 31, 2017.

“We are pleased to report both net sales and EPS within our forecast range, and our Worldwide Barcode, Networking and Security segment delivered 4% sales growth,” said Mike Baur, CEO, ScanSource, Inc.  “We executed well on our key opportunities for growth, including the Intelisys telecommunications and cloud services business.”

For the third quarter of fiscal year 2017, net sales increased 2% to $813.5 million from $798.4 million in the prior year quarter, primarily from growth for the Worldwide Barcode, Networking & Security segment. Operating income decreased to $20.0 million from the prior year quarter, due to higher amortization of intangible assets and the change in fair value of contingent consideration from the Intelisys acquisition. Non-GAAP operating income increased 3% to $26.2 million, primarily from the addition of the Intelisys acquisition.

On a GAAP basis, net income for the quarter totaled $12.4 million, or $0.49 per diluted share, compared with net income of $14.0 million, or $0.54 per diluted share, for the prior year quarter. Non-GAAP net income for the third quarter of fiscal year 2017 totaled $16.4 million, or $0.65 per diluted share.

Forecast for Next Quarter

For the fourth quarter of fiscal year 2017, ScanSource expects net sales to range from $860 million to $920 million, diluted earnings per share to range from $0.44 to $0.51 per share, and non-GAAP diluted earnings per share to range from $0.64 to $0.71 per share. Non-GAAP diluted earnings per share exclude amortization of intangible assets and change in fair value of contingent consideration.

Webcast Details

ScanSource will present additional information about its financial results and outlook in a conference call with presentation slides today, May 9, 2017 at 5:00 p.m. (ET).  A webcast of the call and accompanying presentation slides will be available for all interested parties and can be accessed at www.scansource.com (Investor Relations section).  The webcast will be available for replay for 60 days.

Safe Harbor Statement

This press release, including the forecast for next quarter, contains “forward-looking” statements that involve risks and uncertainties.  Any number of factors could cause actual results to differ materially from anticipated or forecasted results, including, but not limited to, changes in interest and exchange rates and regulatory regimes impacting our overseas operations, the failure of acquisitions to meet our expectations, the failure to manage and implement our organic growth strategy, credit risks involving our larger customers and vendors, termination of our relationship with key vendors or a significant modification of the terms under which we operate with a key vendor, the decline in demand for the products and services that we provide, reduced prices for the products and services that we provide due both to competitor and customer actions, and other factors set forth in the “Risk Factors” contained in our annual report on Form 10-K for the year ended June 30, 2016, and subsequent reports on Form 10-Q, filed with the Securities and Exchange Commission.  Except as may be required by law, the Company expressly disclaims any obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Non-GAAP Financial Information

In addition to disclosing results that are determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”), the Company also discloses certain non-GAAP financial measures, which are summarized below.  Non-GAAP financial measures are used to understand and evaluate performance, including comparisons from period to period. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in fair value of contingent consideration, acquisition costs and other non-GAAP adjustments.

Net sales on a constant currency basis, excluding acquisitions:  The Company discloses the percentage change in net sales excluding the translation impact from changes in foreign currency exchange rates between reporting periods and excluding the net sales from acquisitions prior to the first full year from the acquisition date.  This measure enhances the comparability between periods to help analyze underlying trends on an organic basis.

Non-GAAP operating income, non-GAAP net income and non-GAAP EPS: To evaluate current period performance on a more consistent basis with prior periods, the Company discloses non-GAAP operating income, non-GAAP net income and non-GAAP diluted earnings per share. Non-GAAP results exclude amortization of intangible assets related to acquisitions, change in the fair value of contingent consideration, acquisition costs and other non-GAAP adjustments. Non-GAAP operating income, non-GAAP net income, and non-GAAP EPS measures are useful in assessing and understanding the Company’s operating performance, especially when comparing results with previous periods or forecasting performance for future periods.

Return on invested capital (“ROIC”): Management uses ROIC as a performance measurement to assess efficiency in allocating capital under the Company’s control to generate returns. Management believes this metric balances the Company’s operating results with asset and liability management, is not impacted by capitalization decisions and correlates with shareholder value creation. In addition, it is easily computed, communicated and understood. ROIC also provides management a measure of the Company’s profitability on a basis more comparable to historical or future periods.

ROIC assists management in comparing the Company’s performance over various reporting periods on a consistent basis because it removes from operating results the impact of items that do not reflect core operating performance. Adjusted earnings before interest expense, income taxes, depreciation and amortization (“Adjusted EBITDA”) excludes the change in fair value of contingent consideration, in addition to other non-GAAP adjustments. Management believes the calculation of ROIC provides useful information to investors and is an additional relevant comparison of the Company’s performance during the year. In addition, the Company’s Board of Directors uses ROIC in evaluating business and management performance. Certain management incentive compensation targets are set and measured relative to ROIC.

These non-GAAP financial measures have limitations as analytical tools, and the non-GAAP financial measures that the Company reports may not be comparable to similarly titled amounts reported by other companies. Analysis of results and outlook on a non-GAAP basis should be considered in addition to, and not in substitution for or as superior to, measurements of financial performance prepared in accordance with GAAP. A reconciliation of the Company’s non-GAAP financial information to GAAP is set forth in the Supplementary Information (Unaudited) below.

About ScanSource, Inc.

ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale (POS), barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, the industry’s leading technology services distributor. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2016 Best Places to Work in South Carolina. ScanSource ranks #685 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Mary Gentry
Vice President, Treasurer and Investor Relations
Phone: 864.286.4892

Source: ScanSource, Inc.

ScanSource acquires Kingcom’s channel business to sell communication solutions through the Verizon Partner Program

Greenville, SC, 2017-Apr-13 — /EPR Retail News/ — ScanSource, Inc. (NASDAQ: SCSC), a leading global provider of technology products and solutions, today ( April 10, 2017) announced that it has acquired Kingcom’s  channel business assets and associated support organization to sell communication solutions through the Verizon Partner Program (VPP). The acquisition was completed through ScanSource’s subsidiary, Intelisys, a leading technology services provider of business communications and cloud services.

Kingcom is a VPP Platinum member and its channel business brings specialized resources and enhancements for Intelisys sales partners to sell Verizon services to their customers. This acquisition creates a direct supplier relationship between ScanSource and Verizon, and enables Intelisys to add highly qualified Verizon-focused resources to support its customers.

“As Verizon continues to focus on the channel, it’s imperative our sales partners are ready and able to most effectively sell and support these services offerings,” said Jay Bradley, president of Intelisys. “We are excited about the level of support and expertise we are able to bring to our partners through our relationship with Verizon, and we look forward to the continued opportunities ahead through our investment in this relationship.”

“Kingcom has done a tremendous job in bringing Verizon’s business services to the channel,” said Janet Schijns, VP Solutions and Sales Channels for Verizon Business Markets. “We are excited about this next chapter as together we dig deeper and reinforce our commitment to the channel and to the Intelisys Sales Partner community.”

ScanSource and Intelisys will be at the Channel Partners Conference and Expo April 10 – 13th, and can be found in the ScanSource/Intelisys Lounge located in room Islander A outside of the Expo Hall.

In August 2016, ScanSource entered the recurring revenue telecom and cloud services market through its acquisition of Intelisys, an industry-leading technology services provider of business communications services, including voice, data, access, cable, collaboration, wireless and cloud. Intelisys is dedicated to serving the needs and accelerating the success of the industry’s top producing telecom sales agents, IT Solution Providers, VARs, MSPs and integrators, as they leverage the power of recurring revenue in their businesses. Under contract with more than 130 of the world’s leading telecom carriers, cloud services providers and technology partners, Intelisys delivers the services end users demand exclusively through a network of sales partners, supporting those sales partners via the most exceptional back office support team ever assembled in the channel. To learn more, visit www.Intelisys.com or talk to Intelisys at 800-615-8330.

Safe Harbor Statement
This press release includes forward-looking statements relating to our expectations for the acquisition of Kingcom’s channel business.  Actual results may differ materially from these expectations for a range of reasons, including difficulties in integrating the acquired business, declines in demand for telecommunications and related services, the lack of customer acceptance of the change in distribution channels and the other reasons detailed under “Risk Factors” in our Form 10-K for the year ended June 30, 2016, and subsequent Form 10-Qs.

About Kingcom
Since 2002, Kingcom (www.kingcom.com) has pioneered business telecom solutions with superior service and the latest innovations in the fast moving telecom IT environment to businesses nationwide. With expertise in Technology Expense Management and Telesales, Kingcom supports its customers by helping them stay ahead of the curve with respect to the daunting telecom and IT environment. Kingcom has been an Intelisys partner since 2013.

About ScanSource, Inc.
ScanSource, Inc. (NASDAQ: SCSC) is a leading global provider of technology products and solutions, focusing on point-of-sale, barcode, physical security, video, voice, data networking and technology services. ScanSource’s teams provide value-added solutions and operate from two segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. ScanSource is committed to helping its resellers and sales partners choose, configure and deliver the industry’s best solutions across almost every vertical market in North America, Latin America and Europe. Founded in 1992, the Company is headquartered in Greenville, South Carolina and was named one of the 2016 Best Places to Work in South Carolina. ScanSource ranks #685 on the Fortune 1000. For more information, visit www.scansource.com.

Contact:

Melissa Andrews
Title: Public Relations Manager
Phone: 864.286.4425

Source: ScanSource, Inc