Synnex predicts fiscal 2nd-quarter profit will climb up to 20 percent

Synnex sees 2Q profit rising up to 20 percent

FREMONT, Calif. — Business services company Synnex Corp. said Thursday that it expects its profit to rise up to 20 percent in its fiscal second quarter ending in May.

Synnex expects quarterly profit of $22.1 million to $23.1 million, or 62 cents to 65 cents per share. In the year-ago quarter, Synnex earned $19.2 million, or 57 cents per share.

Analysts polled by Thomson Reuters expect a profit of 64 cents per share.

Synnex also predicted revenue of $1.95 billion to $2.03 billion for the quarter. Analysts expect $2.02 billion in revenue.

Synnex shares rose 70 cents, or 2.3 percent, to close at $31.75.