The cited SYNNEX filing does not establish that Merisel Canada’s distribution business made an operating profit. It confirms the acquisition and says the Canadian operation’s results were reported within SYNNEX’s broader Distribution Business Segment, but it gives no separate Canada operating-profit figure.
What the SYNNEX filing confirms
In its November 25, 2003 prospectus, SYNNEX Corporation said it acquired all outstanding shares of Merisel Canada, Inc. from Merisel Americas, Inc. on July 28, 2001. Merisel Canada distributed computer hardware and software and had locations in Toronto, Vancouver and Montreal. Effective August 30, 2001, it changed its name to SYNNEX Canada Limited. SYNNEX included the Canadian company’s results in its Distribution Business Segment.
Why that does not prove a Canadian operating profit
Reporting results within a segment is not the same as publishing a standalone profit figure for one company in that segment. The prospectus does not separately state Merisel Canada’s operating profit, so the filing cannot support the claim that the Canadian distribution business was profitable on that measure.
The filing also includes unaudited pro forma financial information that combines company-wide results as if the acquisition had happened earlier. Those consolidated figures are not Canada-only operating profit, and the prospectus cautions that pro forma results do not necessarily indicate actual or future results.
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What the $19.940 million figure means
SYNNEX reported total purchase consideration of $19.940 million for the acquisition. That amount is the consideration paid for Merisel Canada, not an operating-profit figure or evidence of the unit’s operating performance.
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How to read the claim accurately
- Established: SYNNEX acquired Merisel Canada in 2001 and reported its results within the Distribution Business Segment.
- Not established by this filing: whether Merisel Canada’s distribution business generated an operating profit, and how much.
- Do not substitute: acquisition consideration or company-wide pro forma results for a Canada-specific operating-profit disclosure.
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