Welcome to our dedicated page for Pc Connection news (Ticker: CNXN), a resource for investors and traders seeking the latest updates and insights on Pc Connection stock.
Connection (PC Connection, Inc.; NASDAQ: CNXN) is an information technology solutions provider to business, government, healthcare, and education markets. As a Fortune 1000 company headquartered in Merrimack, New Hampshire, it operates through its Connection Business Solutions, Connection Enterprise Solutions, and Connection Public Sector Solutions segments, supplying IT products and services across the United States and to international customers through its GlobalServe subsidiary.
This news page for CNXN brings together company-issued updates and market-moving announcements. Readers can follow quarterly earnings results, segment performance for Business Solutions, Enterprise Solutions, and Public Sector Solutions, and commentary on trends in areas such as data center modernization, digital workplace solutions, cloud, software, and security offerings. The company’s releases often include details on product mix across notebooks and mobility, desktops, software, servers and storage, networking, accessories, and other hardware and services.
In addition to financial results and dividend declarations, Connection’s news flow features information on strategic partnerships and recognitions. Examples include announcements about Microsoft Security Specializations, Microsoft Solutions Partner designations, and the company’s internal initiatives like the CNXN Helix Center for Applied AI and Robotics. The news stream also covers Connection’s IT Superhero Awards program, which recognizes outstanding IT professionals and highlights the company’s engagement with the broader technology community and charitable organizations through Connection Cares.
Investors, customers, and analysts can use this CNXN news feed to monitor how Connection communicates its operating performance, capital allocation decisions such as share repurchases and dividends, and developments in its solution capabilities and partner ecosystem. Bookmark this page to access a consolidated view of Connection’s latest press releases and official announcements as they are reported.
Connection (NASDAQ: CNXN) will announce its fourth quarter and full-year 2022 operating results on February 9, 2023, after the market closes. The results will be discussed in a conference call at 4:30 p.m. ET. Interested participants can register to receive the dial-in number and unique PIN. The company specializes in IT solutions for business, government, healthcare, and education sectors, delivering a wide range of computer systems and services from its distribution center. More information can be found on Connection's investor relations website.
Plainsight, a leader in vision AI, has formed a strategic partnership with PC Connection (NASDAQ: CNXN) to provide enhanced enterprise-grade vision AI solutions. This collaboration allows Connection to leverage Plainsight's platform, offering managed services that help organizations innovate and improve competitive advantages. Initially focused on Manufacturing and Retail sectors, the partnership aims to optimize visual data management and AI workflows. Both companies are recognized partners of Google Cloud, ensuring integrated solutions for clients.
PC Connection announces a special cash dividend of $0.34 per share, totaling approximately $8.9 million, payable on December 23, 2022. The record date is set for December 5, 2022. This decision reflects the company's strong financial position and follows a historical precedent of pre-pandemic dividends. Furthermore, a $25 million increase in the share repurchase program brings the total to $80 million, with $37.7 million remaining. The board is also considering future quarterly dividends to enhance shareholder value.
PC Connection (NASDAQ: CNXN) has appointed Mickey Bland as President of the Connection Enterprise Solutions Group. Bland brings years of experience from Insight Enterprises, where he held key leadership roles. His expertise in IT sales strategies and client relationship management is expected to enhance service delivery and drive growth within the enterprise sector. Tim McGrath, President and CEO, expressed confidence in Bland’s ability to contribute to the company’s success and increase market share.
Connection (NASDAQ: CNXN) announced the winners of the 2022 IT Superhero Awards at TechCrunch Disrupt on October 20, 2022, in San Francisco. Five IT professionals were recognized for their outstanding contributions, with Patrick McGee receiving the Ultimate IT Superhero Award. Each winner selected a charity to benefit from a $1,000 donation, while McGee's charity, Girls Who Code, received $2,000. The awards highlight the importance of IT professionals in supporting businesses and communities. Nominations for the 2023 awards will open in April 2023.
Connection (NASDAQ: CNXN) reported third quarter 2022 results showing a 3.2% increase in net sales to $775.7 million. Gross profit rose 13.2% to $136.6 million, expanding gross margin to a record 17.6%. Net income reached $23.2 million, up 15.8%, with diluted EPS at $0.88. Key segments showed mixed results; Business Solutions grew 12.2%, while Public Sector Solutions declined 3.7%. Strong performance in software sales drove growth, with a 41% increase year over year. SG&A expenses rose to $104.9 million, reflecting investment in personnel and marketing.
Connection (NASDAQ: CNXN) will announce its third quarter 2022 operating results on November 3, 2022, after market close. The management will hold a conference call to review the results at 4:30 p.m. ET. Interested participants can register for a dial-in number and PIN. The company, a Fortune 1000 firm, provides IT solutions to various sectors including business, government, healthcare, and education. Its distribution center in Wilmington, OH, is ISO 9001:2015 certified, ensuring high-quality service delivery.
Connection (NASDAQ: CNXN) reported its best quarter in company history for Q2 2022, achieving record net sales of $828.5 million, a 17.7% increase year-over-year. Gross profit also reached a record at $136.9 million, up 17.7% y/y, while net income surged 46.9% to $25.4 million, with diluted EPS of $0.96. Significant growth was noted in the Business Solutions segment, with a 22.9% sales increase, and the overall six-month sales climbed 20.6% to $1.616 billion. Connection's strong performance was driven by demand for hybrid work solutions and cloud services.
PC Connection, Inc. (NASDAQ: CNXN) will announce its Q2 2022 operating results on August 4, 2022, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET that day. Investors can access the call via the investor relations website. The company, known for providing IT solutions across various sectors including business and education, is headquartered in Merrimack, NH, and operates through multiple subsidiaries, catering to a wide range of clients and offering over 460,000 products.
Connection (NASDAQ: CNXN) announces the second annual IT Superhero Awards in partnership with TechCrunch, recognizing outstanding IT professionals. Nominations are open until August 31, 2022, with winners revealed at the TechCrunch Disrupt event on October 20, 2022 in San Francisco. Categories include Best Team Leader and Most Unshakeable, with prizes benefiting charities like Year Up and NPower. Each category winner receives a $1,000 donation in their name, while the Ultimate IT Superhero gets $2,000.