ADI Global Distribution's Fiscal Q2 Swings to Profit, Revenue Rises

MT Newswires Live
08/13

ADI Global Distribution (ADIG) reported a fiscal Q2 net income Thursday of $6 million, swinging from a loss of $283 million a year earlier.

Two analysts polled by FactSet expected net income of $24 million.

Net revenue for the quarter ended July 4 was $1.29 billion, compared with $1.28 billion a year earlier.

Two analysts projected $1.26 billion.

The company said it now expects full-year revenue in the range of $4.95 billion to $5.00 billion. Two analysts project $4.99 billion.

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