Q1 net sales down 13.1% YoY to $632M; diluted EPS $0.50 vs $0.54

PC CONNECTION INC

2024-Q1 EPS reported $0.50 revenue$632,025,000

Net sales $632.0M (-13.1% YoY); net income $13.2M (-7.4%); diluted EPS $0.50.
Gross margin expanded 187 bps to 18.7% driven by shift to cloud/security net revenue recognition.
Public Sector segment sales fell 33.4% due to large federal projects in prior year not repeating.
Board declared $0.10/share quarterly dividend, payable May 29 to holders of record May 14.
Board approved $40M increase to share repurchase program; $72.1M remaining authorized.

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 1.0

PC CONNECTION INC reported the quarter ended March 31, 2024 results: revenue $632.0 million, net income $13.2 million, EPS $0.50.

Period: the quarter ended March 31, 2024
Revenue: $632.0 million
Net income: $13.2 million
EPS: $0.50
Result: reported results

Exact text from the filing

● Net sales: $632.0 million, decrease of 13.1% y/y ● Gross profit: $118.1 million, down 3.5% y/y ● Gross margin: 18.7%, up 187 basis points y/y ● Net income: $13.2 million, decrease of 7.4% y/y ● Diluted EPS: $0.50, compared to $0.54

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PC CONNECTION INC filing history →

Source: SEC EDGAR

accession 0001558370-24-006381

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