TD SYNNEX Offers the Leader in Zero Trust Security

TD SYNNEX has announced a partnership with Zscaler which enables partners to purchase security solutions and services as part of the Zscaler™ Zero Trust Exchange™ platform directly from TD SYNNEX. With year-over-year cybercrime statistics increasing exponentially, making smart investments in security solutions is a must for businesses grappling with how to handle the threats of ransomware and the need to support an increasingly remote and dispersed workforce.

The benefits of this partnership for TD SYNNEX customers includes:

  • Secure digital transformation with the Zscaler Zero Trust Exchange, a cloud native platform that provides fast, secure connections between users, devices, and applications over any network.
  • Enhanced offerings around access and security, for end users making the transition to the cloud from the on-premise hub-and-spoke model with a new, cloud-enabled architecture.
  • Zscaler enhances the TD SYNNEX security portfolio offering customers more options for migrating to a zero trust architecture.

“TD SYNNEX is committed to uniting IT solutions that deliver business outcomes today and unlock growth for the future,” said Cheryl Neal, vice president of New Vendor Acquisition at TD SYNNEX. “With Zscaler added to our vast portfolio of vendor partners, we’re able to enrich the breadth and depth of our offerings so customers can do great things with technology.”

TD SYNNEX Reports Third Quarter Fiscal 2021 Results

TD SYNNEX has  announced financial results for legacy SYNNEX for the fiscal third quarter ended August 31, 2021. According to Marshall Witt, CFO of TD SYNNES, results were consistent with the expectations for the quarter. 

Fiscal 2021 Third Quarter Highlights

  • Revenue was $5.2 billion, down 1.9% from the prior fiscal third quarter. Operating income was $148 million, compared to $132 million, in the prior fiscal third quarter. Non-GAAP operating income was $168 million, in fiscal year third quarter 2021, compared to $149 million, in the prior fiscal third quarter.
  • The trailing fiscal third quarter Return on Invested Capital (ROIC) was 17.5% compared to 12.5% in the prior fiscal year third quarter. The adjusted trailing fiscal third quarter ROIC was 18.4%.
  • Cash used in operations was $56 million for the quarter.
  • Prior period financial results of Concentrix (earlier “customer experience services” business of SYNNEX) are excluded from income from continuing operations and presented as discontinued operations.

“Since our merger closed, the team has been hard at work, focused on a robust, consistent and superior experience for our customers and vendors,” said Rich Hume, CEO of TD SYNNEX. “Our role in the IT industry continues to increase in importance, and we are well positioned to raise the bar on the value we provide all our partners. We are energized by the opportunities ahead of us as we integrate our companies, combine our line card and expand our geographic presence.”

Fourth Quarter Fiscal 2021 Outlook

The following statements are based on TD SYNNEX’ current expectations for the fiscal 2021 fourth quarter for the combined company. Non-GAAP financial measures exclude the impact of the transaction-related and integration expenses, amortization of intangible assets, share-based compensation, purchase accounting adjustments, and the related tax effects thereon. These statements are forward-looking and actual results may differ materially.

  • Revenue is expected to be in the range of $15 billion to $16 billion.
  • Net income is expected to be in the range of $38 million to $106 million and on a non-GAAP basis, net income is expected to be in the range of $242 million to $272 million.
  • Diluted earnings per share is expected to be in the range of $0.39 to $1.09 and on a non-GAAP basis, diluted earnings per share is expected to be in the range of $2.50 to $2.80, based on estimated outstanding diluted weighted average shares of 96.2 million.