Connection reports record Q3 net income of $25.6M; EPS up 10.4% to $0.97; declares $0.08 dividend

PC CONNECTION INC

2023-Q3 EPS reported $2.25 revenue$2,154,178,000

Net sales $693.1M, down 10.6% YoY; gross margin expanded 142 bps to record 19.0%.
Net income $25.6M (+10.3% YoY); diluted EPS $0.97 (+10.4% YoY); adjusted EPS also $0.97.
Business Solutions segment net sales fell 14.8% to $269.0M; gross margin up 326 bps to 23.3%.
Networking sales surged 48% YoY; notebook/mobility down 20%.
Board declared Q4 cash dividend of $0.08/share, payable Dec 1, 2023 to holders of record Nov 14, 2023.

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 0.95

PC CONNECTION INC reported quarter ended September 30, 2023 results: revenue $693.1 million, net income $25.6 million, EPS $0.97.

Period: quarter ended September 30, 2023
Revenue: $693.1 million
Net income: $25.6 million
EPS: $0.97
Result: reported results

Exact text from the filing

EXHIBIT 99.1 Exhibit 99.1 Connection (CNXN) Reports Third Quarter 2023 Results Record Quarter for Net Income and Earnings per Share THIRD QUARTER SUMMARY : Net sales: $693.1 million, down 10.6% y/y Gross profit: $131.9 million, down 3.5% y/y Net income: $25.6 million, up 10.3% y/y Diluted EPS: $0.97, up 10.4% y/y MERRIMACK, N.H.--(BUSINESS WIRE)--November 1,

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Source: SEC EDGAR

accession 0001157523-23-001597

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