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.
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.
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) 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) 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) 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.