Covid hit ScanSource registers sales dip

ScanSource, which is trying to sell its operations in Europe and the UK, has reported Q1 net sales of  $757.3m, down 10% year-over-year (down 7% year-over-year for organic growth). 

Gross profit of $80.8m is down 18% year-over-year. 

“I am proud of our strong execution in an unprecedented operating environment,” said Mike Baur, Chairman and CEO, ScanSource. 

“Our sales grew 19% quarter-over-quarter with broad-based growth across our technologies in North America and Brazil. 

"ScanSource is positioned to help channel partners drive growth by providing customers with endpoints and cloud solutions.”

The year-over-year reduction in net sales is primarily due to the impact of the covid-19 pandemic.

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