ePlus Q1 revenue up 10% to $458.4M; GAAP EPS down 3.4%, non-GAAP up 1%

EPLUS INC

2023-Q1 EPS reported $0.84 revenue$458,359,000

Net sales $458.4M (+10% YoY); technology segment net sales $448.8M (+12.1%).
GAAP diluted EPS $0.84 (down 3.4% from $0.87); non-GAAP diluted EPS $0.99 (up 1.0% from $0.98).
Adjusted EBITDA flat at $38.3M; gross margin 24.8% vs 25.3% (down 50 bps).
Inventory up 59.2% from March 2022 due to supply chain constraints; cash $83.5M.
Acquired assets of Future Com, Ltd. to expand security solutions in South-Central U.S.

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