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.
PC Connection, Inc. (CNXN) has been named the 2021 Growth Partner of the Year, North America, by Veeam Software in recognition of its growth and technical proficiency in providing Veeam solutions. This award highlights Connection's success in addressing customers' data management challenges, particularly amid increasing data volumes. Tim McGrath, CEO, emphasized their commitment to enhancing data protection solutions for customers. The award was presented at VeeamON 2022, indicating Connection's strong support and expertise in the industry.
Connection (NASDAQ: CNXN) reported a strong performance for Q1 2022, with net sales of $788.3 million, a 23.8% increase year-over-year. Net income soared 114.0% to $21.8 million, with diluted EPS at $0.83, also up 113.6% year-over-year. Business Solutions segment sales rose 30.1%, while Public Sector Solutions grew 5.8%. Despite a rise in SG&A expenses to $98.2 million, the percentage of sales decreased to 12.5%. Cash reserves stood at $67.4 million.
PC Connection, Inc. (NASDAQ: CNXN) will announce its Q1 2022 financial results after market close on May 5, 2022. A conference call will follow at 4:30 PM ET to discuss these results. Investors can participate by calling in or accessing the replay via the company’s investor relations website. PC Connection is known for providing tailored IT solutions to various sectors, including business and government, backed by an extensive product range and technical expertise.
Connection (NASDAQ: CNXN) reported a strong fourth quarter and full-year financial performance for 2021. Net sales for Q4 reached $800.2 million, up 18.4% year-over-year, with net income rising 37.4% to $22.4 million. For the full year, net sales increased to $2.9 billion, an 11.7% increase, with net income climbing 25.4% to $69.9 million. The Enterprise and Business Solutions segments achieved record revenues. However, the Public Sector Solutions segment saw a 4.1% decline in sales due to decreased federal government revenue.
Connection (NASDAQ: CNXN) is set to announce its fourth quarter and full-year 2021 operating results on February 7, 2022, after market close. The management will discuss these results during a conference call at 4:30 p.m. ET. Investors can access the call via phone or through a live webcast available on the company’s investor relations website. Connection specializes in providing IT solutions to various sectors, including business, government, and healthcare, and is renowned for its fast delivery of custom-configured computer systems from its distribution center in Wilmington, OH.
TRUCE Software announced a strategic expansion of its distribution network by partnering with TD SYNNEX and 3Eye Technologies. This move aims to enhance accessibility to their Contextual Mobility Management (CMM) solutions for enterprise buyers. As demand for digital transformation grows, TRUCE's products are increasingly integrated into comprehensive Enterprise Mobility Management offerings. The partnerships follow recent agreements with Connection and Insight, emphasizing TRUCE's commitment to optimizing employee experiences in mobile technology.
Connection (NASDAQ: CNXN) announced a special cash dividend of $1.00 per share, payable on December 3, 2021, to shareholders on record by November 18, 2021. This dividend totals approximately $26.2 million. Timothy McGrath, CEO, highlighted the company's strong balance sheet, which supports dividend payments and business growth. Future dividends will depend on the company's financial health and strategic plans.
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.