Page 1

SYNNEX CORPORATION SYNNEX Corporation Reports First Quarter Fiscal 2021 Results Fremont , Calif . , March 22 , 2021 - SYNNEX Corporation ( NYSE : SNX ) , a leading provider of distribution , systems design , and integration services for the technology industry , today announced financial results for the fiscal first quarter ended February 28 , 2021 . Q1 FY21 Q1 FY20 Net change Revenue ( $ M ) $ Operating income ( $ M ) Non - GAAP operating income ( $ M ) ( 1 ) $ 4,939 4,081 21.0 % $ 141.7 $ 100.4 41.1 % 156.0 $ 115.5 35.0 % Operating margin Non - GAAP operating margin ( 1 ) Income from continuing operations Non - GAAP Income from continuing operations ( 1 ) 2.87 % 2.46 % 41 bps 3.16 % 2.83 % 33 bps 87.8 $ 68.5 28.2 % 98.6 $ 73.6 33.9 % Diluted earnings per common share ( " EPS " ) from continuing operations $ 1.69 $ 1.32 28.0 % Non - GAAP Diluted EPS from continuing operations ( 1 ) $ 1.89 $ 1.42 33.1 % " Our strong momentum continued in Q1 , driven by solid demand for technology products and services , as our customers continued to support users everywhere to connect , collaborate and increase productivity , " said Dennis Polk , President and CEO of SYNNEX . " We are encouraged by the IT spending environment so far in 2021 , led by the ongoing acceleration of digital transformation across industries and continued investment in remote enablement . " Fiscal 2021 First Quarter Highlights • • • Revenue was $ 4.9 billion , up 21.0 % from the prior fiscal first quarter . Operating income was $ 142 million , compared to $ 100 million , in the prior fiscal first quarter . Non - GAAP operating income was $ 156 million , in fiscal year first quarter 2021 , compared to $ 116 million , in the prior fiscal first quarter . The trailing fiscal first quarter Return on Invested Capital ( " ROIC " ) was 14.9 % compared to 12.0 % in the prior fiscal year first quarter . The adjusted trailing fiscal four quarters ROIC was 15.9 % . Cash generated from operations was approximately $ 25 million for the quarter . Post Separation , prior period financial results of Concentrix are presented as discontinued operations .