SYNNEX Corporation (NYSE: SNX) in the second quarter of FY 17  has reported the adjusted earnings per share of $2.08 and the company had reported the adjusted revenue growth of 35.9 percent to $3.94 billion in the second quarter of FY 17.

Moreover, the revenue from Technology Solutions grew 13.5 percent to $3.5 billion from the prior fiscal year quarter. Adjusting for the translation effect of foreign currencies, the Technology Solutions business has grown by 14.0% compared with last year. Technology Solutions has generated operating income of $101.7 million, or 2.94% of segment revenue, compared with $75.8 million, in the fiscal second quarter of 2016.

The revenue from Concentrix was $481.7 million, which is an increase of 43.4% from the $335.9 million in revenue generated during the second quarter of last year. Adjusting for the translation effect of currencies, Concentrix revenue increased 44.6% compared with last year. Non-GAAP operating income was $38.8 million, or 8.06% of segment revenue, for fiscal second quarter of 2017, compared with $15.1 million, in the fiscal second quarter of 2016.

Additionally, SNX has approved an anti-dilution repurchase program of up to $300 million of its common stock over a period of up to three years effective from July 1st, 2017. SNX has also declared a quarterly cash dividend of $0.25 per common share. The dividend will be payable on July 28th, 2017 to stockholders of record as of the close of business on July 14th, 2017.

In addition, the trailing fiscal four quarters Return on Invested Capital (ROIC) was 11.0% compared with 9.4% in the prior year fiscal second quarter. The adjusted trailing for fiscal four quarters ROIC was 12.0%. The debt to capitalization ratio was 33.9% in the second quarter 2017, up from 27.3% in the prior fiscal year second quarter. The depreciation and amortization were $19.4 million and $16.1 million, respectively in Q2 2017. Overall the cash generated from operations was over $40 million for the second quarter.

For the third quarter of FY 17, SNX expects an earnings-per-share to be in the range from $1.94 to $2.02.The company expects the revenue to be in the range of $3.9 billion to $4.1 billion for the fiscal third quarter. On a Non-GAAP basis net income is expected to be in the range of $78.1 million to $81.1 million in Q3 FY 17 and after-tax amortization of intangibles is expected to be $10.4 million, or $0.26 per share. SYNNEX stock has risen 33.38% in the last one year (source: Google Finance).