Business Context and Reporting Period
Company: SYNNEX CORPORATION (Note: The filing metadata references TD SYNNEX CORP, but the document text identifies the registrant as SYNNEX CORPORATION).
Filing Type: Form 8-K (Current Report)
Date of Report: September 28, 2009
Event: The company announced the signing of a definitive agreement to sell its controlling interest in China Civilink (Cayman), which operates in China as HiChina Web Solutions, to Alibaba.com Limited.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics for the company as a whole. It only references specific earnings contributions from the divested subsidiary:
- China Civilink Contribution (9 months ended Aug 31, 2009): Approximately $0.09 per diluted share.
- China Civilink Contribution (Fiscal year ended Nov 30, 2008): Approximately $0.17 per diluted share.
Material Changes
The primary material change is the strategic divestiture of the company's controlling interest in its Chinese eCommerce subsidiary, HiChina Web Solutions. This transaction removes a segment that previously contributed to the company's diluted earnings per share.
Guidance, Outlook, and Risks
Management Commentary: The filing serves as a Regulation FD disclosure regarding the sale agreement. It does not contain forward-looking guidance, updated outlooks, or specific risk factors related to the transaction beyond the disclosure of the event itself.
Unusual Items: The sale of a controlling interest in a significant operating subsidiary is a material corporate event.
Investor Verification Checklist
- Verify the final closing date and transaction terms of the sale to Alibaba.com Limited.
- Confirm the total consideration received for the controlling interest in China Civilink (Cayman).
- Review the impact of this divestiture on future earnings per share projections, given the historical contribution of $0.09 to $0.17 per share.
- Check subsequent filings for any regulatory approvals required to finalize the transaction.