THIRD QUARTER SUMMARY:
Net sales for the SMB segment increased by 7.3% in the quarter to
$235.3 million, compared to net sales in the third quarter of 2012.
Notebook/tablet and desktop/server sales had strong growth during the
quarter of 11% and 14%, respectively. SMB software sales grew by 18%
due to increased demand in security, virtualization, office
productivity, and operating systems software.
Net sales for the Large Account segment totaled $193.1 million, an
increase of 0.2%, compared to net sales in the third quarter of 2012.
Storage had strong growth of 18% during the quarter. Commercial sales,
which consists of SMB and Large Account sales, increased by 4.0% from
the prior year quarter.
Net sales to government and education customers (Public Sector
segment) increased by 1.8% year over year to $151.9 million. Sales to
state and local government and educational institutions increased by
12.7% compared to last year. Sales to the federal government decreased
by 18.1% as a result of the ongoing budgetary constraints.
Net sales: $580.4 million, up 3.4% year over year
Operating margin increased to 3.0% of net sales
Diluted earnings per share: $0.40, up 8.1% year over year
Cash balance increased to $77 million, from $40 million at December
MERRIMACK, N.H.--(BUSINESS WIRE)--
PC Connection, Inc.(NASDAQ: PCCC), a provider of a full range of
information technology (IT) solutions to business, government, and
education markets, today announced results for the quarter ended
September 30, 2013. Net sales for the third quarter of 2013 were $580.4
million, an increase of 3.4% compared to $561.3 million for the third
quarter of 2012. Net income for the quarter ended September 30, 2013 was
$10.6 million, or $0.40 per diluted share, compared to net income of
$9.9 million, or $0.37 per diluted share, for the corresponding prior
Net sales for the nine months ended September 30, 2013 were
$1,643.1 million, an increase of $40.4 million or 2.5%, compared to
$1,602.6 million for the nine months ended September 30, 2012. Net
income for the nine months ended September 30, 2013 was $25.8 million,
or $0.98 per diluted share, compared to net income of $24.2 million, or
$0.91 per diluted share, for the corresponding prior year period.
Earnings before interest, taxes, depreciation and amortization, adjusted
for stock-based compensation expense, and special charges (“Adjusted
EBITDA”) totaled $65.6 million for the twelve months ended September 30,
2013, as compared to $60.0 million for the twelve months ended September
Quarterly Sales by Segment: