Every material Form 8-K PC Connection filed with the SEC in 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Connection (PC Connection, Inc.) reported third-quarter 2023 results on November 1, 2023. Net sales fell 10.6% year over year to $693.1 million, while net income rose 10.3% to $25.6 million, or $0.97 per diluted share, from $0.88 a year earlier. The company also declared a quarterly dividend of $0.08 per share.
Net sales were $693.1 million, down 10.6% from the prior year quarter, with gross profit down 3.5% to $131.9 million.
Net income was $25.6 million, or $0.97 per diluted share, compared with $23.2 million, or $0.88 per share, a year earlier.
For the nine months ended September 30, 2023, net income fell 15.5% to $59.5 million, or $2.25 per diluted share.
The $0.08 per share dividend is payable December 1, 2023, to shareholders of record as of November 14, 2023.
Connection (PC Connection, Inc.) reported second-quarter 2023 net sales of $733.5 million, down 11.5% from a year earlier, and net income of $19.7 million, or $0.75 per diluted share, down 22.4% from $0.96. The company said gross margin rose 90 basis points to 17.4%, and its board declared a quarterly dividend of $0.08 per share.
Net sales were $733.5 million, down 11.5% year over year; gross profit was $127.8 million, down 6.7%.
Diluted EPS was $0.75 versus $0.96 a year earlier; adjusted diluted EPS was $0.80 versus $0.96.
Quarterly dividend of $0.08 per share is payable September 1, 2023, to shareholders of record as of August 15, 2023.
Cash and cash equivalents were $244.0 million at June 30, 2023, versus $94.9 million a year earlier.
PC Connection entered into a Fourth Amendment to its credit agreement with Citizens Bank, N.A. on June 13, 2023, under which the company may borrow up to $50.0 million, with an option to increase that to $80.0 million in certain circumstances. The amendment mainly replaces LIBOR-based references with the BSBY Rate and related loan terms, and the filing does not describe changes to borrowing limits or financial covenants.
Amendment dated June 13, 2023, with Citizens Bank, N.A. as agent and lender
Credit facility allows borrowing up to $50.0 million, expandable to $80.0 million at the company's option in certain circumstances
'LIBOR Rate' references replaced with 'BSBY Rate', defined with a 0.00% floor
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every PC Connection filing is on SEC EDGAR ↗. 8-K briefs of other companies →