PC Connections reports first quarter results
PC Connection Incorporated announced significant increases in operating income, net income and diluted earnings per share for first quarter 2007.
According to first quarter results released yesterday, net income for the IT service provider doubled compared to first quarter 2006. Net income for the three-month period ending March 31, 2007, was $3.4 million compared to $1.7 million reported last year. Diluted earnings per share were 13 cents, up from last year’s earnings of 7 cents.
Operating income for first quarter 2007 saw a 60-percent increase to $5.7 million over first quarter 2006. And net sales increased nearly five percent to $398.2 million from $380.5 million reported for first quarter 2006.
The greatest growth for the Merrimack-based company was seen in the small- and medium-sized business segment according to CEO Patricia Gallup.
Sale of notebook computers and PDA’s grew 14 percent and accounted for 18.5 percent of net sales for first quarter 2007.
Gross profit margin, as a percentage of net sales, increased 34 basis points compared to first quarter 2006.
PC Connection Inc. and its subsidiaries market IT products and services to businesses, federal, state and local government agencies and educational institutions throughout the world. — TRACIE STONE