What happened Shares of ScanSource (NASDAQ: SCSC) sank on Tuesday after the technology products distributor reported its fiscal fourth-quarter results. The numbers were mixed relative to analyst expectations, with sales down more than 20% due to the COVID-19 pandemic. ScanSource stock was down about 11.5% at 11:20 a.m. EDT. So what ScanSource reported fourth-quarter revenue of $636.5 million, down 22% year over year and just barely ahead of the average analyst estimate. Organic sales were down 19%. The company saw lower demand from its customers due to the impact of the pandemic. Image source: Getty Images. One bright spot for ScanSource was Intelisys, which sells business telecommunications services. Revenue from Intelisys grew by 15% in the quarter. Adjusted earnings per share came in at $0.19, down from $0.75 in the prior-year period and $0.02 below the average analyst estimate. The company lost $4.29 per share under generally accepted accounting principles (GAAP), largely due to goodwill and asset impairment charges driven by lower revenue projections. Now what ScanSource announced a $30 million expense reduction plan in July, which will help offset the revenue impacts of the pandemic. The company reduced its selling, general, and administrative expenses by about 7.5% in the fourth quarter. The demand environment for ScanSource remains uncertain as the pandemic continues to play out in the United States. Including Tuesday's decline, the stock is down about 40% since the start of the year. 10 stocks we like better than ScanSourceWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and ScanSource wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Timothy Green has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source