QE 12/31/03 capsule:

Net sales                            $289.0 million
Net income                        $6.7 million
Non-GAAP net income         $7.4 million
Diluted EPS                       $0.52 per share
Non-GAAP diluted EPS        $0.58 per share

“We were pleasantly surprised by strong sales this quarter of AIDC products which helped drive international sales growth of 42%, net of the favorable foreign exchange rate,” said Mike Baur, President and CEO of ScanSource. “The North America business unit was led by higher-than-expected demand for telephony products and strong across-the-board sales performance by our AIDC and POS product lines.”

Net income, based upon Generally Accepted Accounting Principles (GAAP), increased 15% to $6.7 million for the quarter ended December 31, 2003 versus $5.8 million for the quarter ended December 31, 2002. Diluted earnings per share increased 13% to $0.52 per share, compared to $0.46 in the prior year quarter.

About ScanSource
ScanSource, Inc. is a leading international distributor of specialty technology products, including automatic identification and data capture (AIDC) and point-of-sale (POS) products through its ScanSource sales unit; Avaya voice, data and converged communications products through its Catalyst Telecom sales unit; and converged communications products through its Paracon sales unit.

(Image provided by ScanSource, Inc.)

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