secwatch.observer — SEC 8-K summary
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Issuer:     PC CONNECTION INC (CNXN)
CIK:        0001050377
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001558370-24-006381
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050377/000155837024006381/0001558370-24-006381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050377/000155837024006381/cnxn-20240501x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-006381

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