On a consolidated basis, total revenue was a third quarter record of $6.5 billion, up 4% compared to $6.2 billion in the same quarter last year.
On a constant currency basis, revenue was up 5% compared to the prior year quarter.
Our consolidated gross profit dollars totaled $708 million, down 2% or 18 million versus a year ago, and gross margin was 11% compared to 11.7% a year ago.
Total adjusted SG&A expense was $448 million or 7% of revenue, down $8 million compared to the year ago quarter.
Consolidated non-GAAP operating income was $260 million, down $10 million or 4% compared to a year ago.
Non-GAAP operating margin of 4% was lower by 34 basis points, compared to the prior year period.
First on Technology Solutions revenue was $5.3 billion, up 5% or $258 million over the prior year quarter.
Technology Solutions' gross margin was 5.6%, and that was 37 basis points lower than the prior year quarter, primarily due to product mix.
Operating income of $132 million was down $6 million compared to a year ago.
Non-GAAP operating income was $142 million, down 5% or $7 million compared to the prior year quarter.
Non-GAAP operating margin was 2.7%, 29 basis points lower than a year ago.
Technology Solutions COVID-19 related net incremental expense was approximately $8 million for the quarter, primarily made up of an increase in allowance for doubtful accounts, staffing and work from home costs.
Now to Concentrix; Concentrix revenue was $1.2 billion, up 24 basis points over the prior year quarter.
Concentrix gross margin was 35.5%, up 308 basis points sequentially, and down 126 basis points compared to the year ago quarter, primarily due to the impact of COVID-19.
Non-GAAP operating income in the quarter was $118 million, down $3 million in absolute dollars or 2% compared to a year ago.
Non-GAAP operating margin was 10.1% compared to 5.9% in fiscal Q2 and 10.4% a year ago.
Net Concentrix COVID-19 related incremental expenses were approximately $13 million for the quarter.
Now moving back to our consolidated results; third quarter net total interest expense and finance charges were $29 million, a reduction of $14 million compared to a year ago quarter.
For the fourth quarter, we expect interest expense to be approximately $29 million.
Total non-GAAP net income was $173 million, up $3 million or 2% over the prior year period, and non-GAAP diluted earnings per share was $3.33, up $0.03 or 1% over the same period a year ago.
The effective tax rate for the third quarter was 25.2% compared to 25.3% a year ago.
For the fourth quarter of fiscal 2020, we expect the effective tax rate to be approximately 25%.
Turning to the balance sheet, our accounts receivable totaled $3.6 billion and inventories totaled $2.8 billion on August 31, 2020.
Our cash conversion cycle for the third quarter was 38 days, 11 days lower from a year ago and improved eight days from last quarter and led to a preliminary cash flow from operations of $321 million.
At the end of Q3, including our cash and credit facilities, SYNNEX had approximately $2.8 billion in total liquidity available to fund operations.
As we see it today, the estimated the SYNNEX Corp gross debt will be approximately $2.6 billion with Concentrix receiving approximately $1.1 billion and SYNNEX receiving approximately $1.5 billion.
The majority of cash on hand, which we estimate will be approximately $700 million at spin, will be held by SYNNEX.
Now moving to our fourth quarter outlook; we expect revenue to be in the range of $6.45 billion to $6.65 billion.
Non-GAAP net income is expected to be in the range of $191 million to $204 million.
Non-GAAP diluted earnings per share is expected to be in the range of $3.68 to $3.93 per diluted share, on weighted average shares of approximately $51.5 million.
Non-GAAP net income and non-GAAP diluted earnings per share guidance excludes after-tax costs of approximately $37.5 million or $0.72 per share, related to the amortization of intangibles and acquisition-related and integration expenses.
The Concentrix F-10 document is available for your review.
The third quarter revenue for Concentrix totaled $1.16 billion, slightly higher than the same quarter last year.
This is just the latest innovation from our staff of well over 1,000 skilled engineers and developers.
The communication vertical is now approximately 21% of revenue, representing an impact of 4% to our year-over-year growth rate, but giving us a much more balanced portfolio.
As expected, our travel, transportation and tourism clients during the quarter have been impacted by COVID-19, resulting in an additional 2% impact on growth.
Now moving to profitability; adjusted operating income for the quarter was $118 million or 10.1%, nearly reaching the year-ago level.
The return to double-digit operating margin reflects revenue over performance, with lower variable spend, despite $13 million of additional net COVID-19 cost impacts.
Cash flow from operations in the third quarter totaled approximately $91 million.
Capital expenditures totaled approximately $37 million.
As a result, we expect fourth quarter revenue to increase by at least 2% year-over-year on a constant currency basis, and we expect our adjusted operating margin to be above 12.5%.
We intend to announce our Board of Directors in an updated Form 10 Registration Statement in early October.

Summary:
First on Technology Solutions revenue was $5.3 billion, up 5% or $258 million over the prior year quarter.
Now to Concentrix; Concentrix revenue was $1.2 billion, up 24 basis points over the prior year quarter.
Total non-GAAP net income was $173 million, up $3 million or 2% over the prior year period, and non-GAAP diluted earnings per share was $3.33, up $0.03 or 1% over the same period a year ago.
Now moving to our fourth quarter outlook; we expect revenue to be in the range of $6.45 billion to $6.65 billion.
Non-GAAP diluted earnings per share is expected to be in the range of $3.68 to $3.93 per diluted share, on weighted average shares of approximately $51.5 million.