Pc Connection Inc Stock Price, News & Analysis

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.

Connection (NASDAQ: CNXN) announced its public sector subsidiary has secured one of the GSA’s 2nd Generation Information Technology Blanket Purchase Agreements. This $5.5 billion contract spans five years and allows Connection to provide IT hardware, software, and services to government agencies. The CEO emphasized the importance of this contract in supporting the technology needs of federal customers and enhancing service flexibility.

Connection aims to leverage this opportunity to strengthen its reputation as a trusted IT provider.

PC Connection (NASDAQ: CNXN), an IT solutions provider, announces the appointment of Larry S. Kirsch as President of Connection Public Sector Solutions. Mr. Kirsch brings over 25 years of experience from various tech firms, including CDW and PCM-G. His leadership is expected to enhance growth and service for government and education markets. This addition aims to leverage Kirsch's proven track record and industry knowledge to benefit Connection's clients.

Connection (NASDAQ: CNXN) reported a 10.5% decline in net sales for Q1 2021, totaling $636.9 million, largely due to pandemic-driven supply chain disruptions. Net income fell 31.6% to $10.2 million. Despite these challenges, the company saw strong demand in its notebook and mobility products, boosted by workplace transformations. The Public Sector Solutions segment thrived with a 25.7% revenue increase. Connection remains optimistic about growth prospects in 2021, citing record backlog levels.