Pc Connection Inc Stock Price, News & Analysis

Connection (NASDAQ: CNXN) reported third-quarter results with net sales of $751.4 million, a 15.1% year-over-year increase. Gross profit rose by 11.9% to $120.7 million, while net income increased 18.4% to $20 million or $0.76 per diluted share. Sales growth was driven by a 24% increase in Manufacturing and a 10% increase in Healthcare. However, the Public Sector Solutions segment saw a 1.1% decline. SG&A expenses rose to $93.4 million, but as a percentage of sales, it decreased to 12.4%.

Connection (NASDAQ: CNXN) will announce its third quarter 2021 operating results on November 4, 2021, after market close. A conference call will follow at 4:30 p.m. ET, where management will discuss the outcomes. Investors can join the call by dialing 877-776-4016 (US) or 973-638-3231 (International) with the confirmation number 8894527. The call will also be available as a live webcast and later replays through the company’s investor relations website.

PC Connection (NASDAQ: CNXN) has achieved the prestigious designation of Microsoft Azure Expert Managed Service Provider (MSP), affirming its exceptional cloud capabilities. This certification highlights Connection's commitment to providing comprehensive support for Azure environments.

CEO Tim McGrath emphasized the company’s investments in cloud technologies and its ongoing relationship with Microsoft to meet customer demands. Connection also maintains multiple Microsoft competencies, showcasing its expertise in cloud strategies tailored for diverse workloads.

Connection (NASDAQ: CNXN) reported a strong second quarter for 2021, with net sales increasing by 28.0% to $704.2 million, driven by significant growth across key markets, particularly healthcare and manufacturing. Net income surged by 126.3% to $17.3 million or $0.66 per diluted share. Although supply chain disruptions posed challenges, the company remains optimistic about continued demand. Adjusted EBITDA for the twelve months ended June 30, 2021, was $96.7 million, compared to $110.0 million in the previous year, reflecting ongoing operational adjustments.

Connection (NASDAQ: CNXN) will release its second quarter 2021 financial results on August 5, 2021, after market close. A conference call will be held at 4:30 p.m. ET to discuss these results. Investors can participate by calling 877-776-4016 (US) or 631-813-4880 (International), using confirmation number 4558005. The call will also be accessible via live webcast and will be available for replay on the company’s investor relations website.

Connection (NASDAQ: CNXN) announces the inaugural IT Superhero Awards in partnership with TechCrunch to recognize IT professionals from various sectors. Nominees can submit their entries until August 10, 2021, with winners to be honored during the TechCrunch Disrupt event on September 21, 2021. Awards will be given in five categories, including Best Team Leader and Best Rookie. The program aims to celebrate the essential contributions of IT professionals, especially following the challenges posed by the pandemic.

Connection (NASDAQ: CNXN), a leading IT solutions provider, has achieved Google Cloud premier partner status. This designation highlights its proven ability to deliver outstanding customer service and technical expertise across Google Cloud's offerings. CEO Tim McGrath emphasized the significance of this status in expanding capabilities and servicing diverse customer needs. Connection aims to enhance its portfolio with Google technologies, accelerating digital transformation for clients. The firm's cloud-first solutions encompass analytics, security, and AI.

Connection (NASDAQ: CNXN) has received the Windows Server and SQL Server Migration to Microsoft Azure advanced specialization from Microsoft. This distinction highlights Connection’s expertise in migrating workloads to Azure, validated by stringent criteria around customer success and third-party audits. Connection’s President, Tim McGrath, emphasized that this recognition enhances client confidence in adopting cloud technologies. Microsoft's Rodney Clark acknowledged Connection’s demonstrated capabilities in facilitating successful migrations to Azure.

Connection (NASDAQ: CNXN) has been awarded the title of Federal Public Sector Partner of the Year by Aruba during the Aruba Atmosphere '21 event. This recognition highlights Connection's strong performance, technical skills, and commitment to customer service excellence, particularly during the ongoing digital transformation amid the COVID-19 pandemic. Larry Kirsch, President of Connection Public Sector Solutions, emphasized their capability to deliver secure and agile technology solutions, underscoring the honor as a testament to their expertise in the evolving IT landscape.