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PC Connection Inc., doing business as Connection, provides information technology solutions for business, government, healthcare and education markets. The company sells computer systems, software, peripherals, networking products and related accessories, and also provides design, configuration and implementation services for IT environments.
News about CNXN commonly covers quarterly operating results, gross billings, gross profit, segment activity in Business Solutions, Enterprise Solutions and Public Sector Solutions, and capital-return actions such as dividends and share repurchase authorizations. Company updates also address custom-configured IT solutions, supply-chain tools such as MarkITplace, GlobalServe international procurement services, managed security offerings and customer technology priorities including data center modernization, digital workplace transformation and AI-related infrastructure demand.
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.
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.