Every material Form 8-K PC Connection filed with the SEC in 2024, 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.
PC Connection reported third-quarter 2024 results for the quarter ended September 30, 2024, with net sales of $724.7 million, up 4.6%, and net income of $27.1 million, up 5.7%, or $1.02 per diluted share versus $0.97 a year earlier. Gross margin narrowed to 18.7% from 19.0%, and adjusted diluted EPS was flat at $0.97, while the Board declared a $0.10 quarterly dividend.
Net sales were $724.7 million, up 4.6% from $693.1 million; gross margin was 18.7% versus 19.0% a year earlier.
Diluted EPS was $1.02 versus $0.97; adjusted diluted EPS was $0.97, flat year over year, and GAAP other income included $1.7 million from a legal settlement.
Quarterly dividend of $0.10 per share, payable November 29, 2024, to shareholders of record on November 12, 2024.
For the nine months, net sales fell 2.8% to $2.09 billion, while net income rose 11.6% to $66.4 million.
Connection (PC Connection, Inc.) reported second-quarter 2024 net sales of $736.5 million, up 0.4% from a year earlier, and net income of $26.2 million, up 32.8%, or $0.99 per diluted share versus $0.75. The company described the quarter as a record for net income and earnings per share, while the Public Sector Solutions segment's sales fell 14.0%. The board also declared a quarterly dividend of $0.10 per share.
Net sales were $736.5 million, up 0.4% year over year; gross profit rose 6.9% to $136.5 million and gross margin widened 112 basis points to 18.5%.
Net income was $26.2 million, up 32.8%; diluted EPS was $0.99 versus $0.75 a year earlier.
Public Sector Solutions net sales fell 14.0% to $159.5 million, while Business Solutions and Enterprise Solutions sales rose 6.6% and 4.1%.
Quarterly dividend of $0.10 per share is payable August 30, 2024, to shareholders of record on August 13, 2024.
Connection reported first-quarter 2024 net sales of $632.0 million, down 13.1% year over year, which management attributed to customers delaying IT capital spending. Net income fell 7.4% to $13.2 million, or $0.50 per diluted share, although gross margin rose 187 basis points to 18.7%. The board also declared a $0.10 quarterly dividend and raised the share repurchase authorization by $40.0 million to $120.0 million, of which $72.1 million is available.
Net sales were $632.0 million, down 13.1% from $727.5 million; Public Sector Solutions sales fell 33.4% to $93.5 million
Net income was $13.2 million, or $0.50 per diluted share, versus $14.2 million, or $0.54, a year earlier
Gross margin expanded 187 basis points to 18.7%; Adjusted EBITDA decreased 6% to $120.3 million for the last twelve months
Quarterly dividend of $0.10 per share is payable May 29, 2024, to shareholders of record as of May 14, 2024
PC Connection reported fourth-quarter and full-year 2023 results on February 14, 2024. Quarterly net income rose 26.3% even as net sales fell 4.9%, but full-year net sales fell 8.8% and net income fell 6.7%. The board also raised the quarterly dividend by 25% to $0.10 per share.
Q4 2023 net sales were $696.5 million, down 4.9%; net income was $23.8 million, up 26.3%, or $0.90 per diluted share.
Full-year 2023 net sales were $2.9 billion, down 8.8%; net income was $83.3 million, down 6.7%, or $3.15 per diluted share.
Quarterly dividend raised 25% to $0.10 per share, payable March 15, 2024, to shareholders of record as of February 27, 2024.
Cash and short-term investments were $297.2 million at December 31, 2023, up from $122.9 million a year earlier.
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