PC Connection Q1 net sales $727.5M (-7.7% YoY); diluted EPS $0.54 (-34.9%); declares $0.08 dividend

PC CONNECTION INC

2023-Q1 EPS reported $0.54 revenue$727,545,000

Net income $14.2M, down 34.8% YoY; adjusted EPS $0.56, down 31.9%.
Gross margin expanded 53 bps to 16.8%; SG&A rose to 14.2% of sales from 12.5%.
Business Solutions sales fell 14.8% to $273.1M; Public Sector rose 6.0% to $140.5M.
Quarterly dividend $0.08/share payable June 2, 2023 to holders of record May 16, 2023.
Cash $134.8M at quarter end; repurchased 79,197 shares for $3.4M during Q1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PC CONNECTION INC reported the quarter ended March 31, 2023 results: revenue $727.5 million, net income $14.2 million, EPS $0.54.

Period: the quarter ended March 31, 2023
Revenue: $727.5 million
Net income: $14.2 million
EPS: $0.54
Result: reported results

Exact text from the filing

Net sales: $727.5 million, down 7.7% y/y Gross profit: $122.3 million, down 4.7% y/y Net income: $14.2 million, down 34.8% y/y Diluted EPS: $0.54, down 34.9% y/y Adjusted EPS: $0.56, down 31.9% y/y

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Source: SEC EDGAR

accession 0001157523-23-000743

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