PC Connection’s 2Q sales top $500m

PC Connection topped a half-billion in sales to pull just short of $7.5 million in net income, or 28 cents a share, in the second quarter ending June 30, the Merrimack company reported Thursday after market close.That’s a 7 percent increase in sales and a 50 percent increase in profit compared to the same quarter last year. The $512 million in quarterly sales brings the company just short of a billion dollars ($975 million) in the first half, a 10 percent increase year to date over last year.Sales are up across the board, with software up by 22 percent, desktop and servers increasing 12 percent and notebooks up by 10 percent. The company’s biggest growth is small to medium business (14.4 percent) to $218 million. Large accounts increased by 7.6 percent to $160.7 million, but that is partly do to with the acquisition of ValCom Technology, a provider of infrastructure management and onsite management services to medium and large corporations. Excluding ValCom sales, the growth would have been only 2.3 percent. Government cutbacks hurt sales, but school business increased, causing the company’s institutional sales to remain flat at about $120 million, and consumer sales, the smallest segment, was down by $2.7 million to $14.1 million.PC Connection closed Thusday at $7.91, down a dime for the day, but up four cents in the first hour after close. — BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW