First quarter starts with uptick for ScanSource.

• Position: ScanSource Inc.

Greenville-based point-of-sale technology companyScanSource Inc.reports a first quarter net sales increase of 5% to $972.9 million over the first quarter, ending Sept. 30, of last year.

Organic sales, which exclude the impact from foreign currency translation and recent acquisitions, grew 6.5% year-over-year, according to a company statement. Operating income increased to $21.4 million, as the expense for the change in contingent consideration related to Network1 decreased. Non-GAAP operating income increased 7% to $32.7 million, driven by higher sales volumes and higher gross margins.

"We had a strong start to our fiscal year with excellent results across the...