Connection (CNXN) reports record Q2: net sales $828.5M, EPS $0.96, up 46.5% YoY

PC CONNECTION INC

2022-Q2 EPS reported $1.79 revenue$1,616,853,000

Record net sales $828.5M (+17.7% YoY); record net income $25.4M (+46.9% YoY); record diluted EPS $0.96 (+46.5% YoY).
Business Solutions segment sales up 22.9% to $328.4M; gross margin expanded 75bps to 19.9%.
Enterprise Solutions sales up 13.6% to $348.9M; gross margin down 80bps to 14.5% due to product mix.
SG&A as % of sales improved to 12.3% from 13.1% despite higher headcount investment.
Cash $94.9M at June 30, 2022 vs $108.3M at Dec 31, 2021.

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