SYNNEX Corporation (SNX) has reported a 64.89 percent jump in profit for the quarter ended May 31, 2017. The company has earned $73.15 million, or $1.83 a share in the quarter, compared with $44.36 million, or $1.11 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $83.21 million, or $2.08 a share compared with $54.76 million or $1.37 a share, a year ago.

Revenue during the quarter grew 16.47 percent to $3,936.27 million from $3,379.50 million in the previous year period. Gross margin for the quarter expanded 76 basis points over the previous year period to 9.46 percent. Total expenses were 96.82 percent of quarterly revenues, down from 97.77 percent for the same period last year. This has led to an improvement of 95 basis points in operating margin to 3.18 percent.

Operating income for the quarter was $125.13 million, compared with $75.31 million in the previous year period.

However, the adjusted operating income for the quarter stood at $141.20 million compared to $91.66 million in the prior year period. At the same time, adjusted operating margin improved 87 basis points in the quarter to 3.59 percent from 2.71 percent in the last year period.

"Our record Q2 results reflect solid execution by the SYNNEX team," said Kevin Murai, president and chief executive officer, SYNNEX Corporation. "Both our Technology Solutions and Concentrix business segments exceeded our expectations in revenue and margin."

For the third-quarter 2017, SYNNEX Corporation expects revenue to be in the range of $3,900 million to $4,100 million. The company forecasts net income to be in the range of $67.70 million to $70.70 million and projects adjusted net income to be in the range of $78.10 million to $81.10 million. It projects diluted earnings per share to be in the range of $1.68 to $1.76. On an adjusted basis, the company projects diluted earnings per share to be in the range of $1.94 to $2.02.