ePlus Inc. provides technology solutions and services for organizations across security, cloud, data center, networking, collaboration, artificial intelligence, service provider and critical infrastructure environments. Company news commonly covers earnings releases, guidance, dividends, service launches and customer-facing offerings tied to IT modernization and infrastructure capacity.
Updates also include managed and professional services activity, channel certifications and industry recognition, governance changes, and developments at Bailiwick Services, an ePlus Technology subsidiary focused on managed IT services, technology deployment and digital lock technology for retail use cases.
ePlus inc. (NASDAQ: PLUS) announced the launch of ePlus Storage-as-a-Service powered by Pure Storage Evergreen//One™ on January 5, 2023. This service aims to enhance enterprise storage solutions with flexible subscription models, technical support, and customer success resources. Key features include expedited issue resolution, improved capacity planning insights, a consumption-based utility model, and on-demand burst capacity. This offering allows customers to manage their data center infrastructure efficiently while minimizing upfront costs and risks associated with data center capacity planning.
ePlus inc. (NASDAQ: PLUS) received multiple accolades from Nutanix, including the 2022 Global Reseller of the Year and Americas Reseller of the Year Awards. These honors highlight ePlus's expertise in the Nutanix Cloud Platform and its commitment to assisting clients in modernizing their infrastructures. The company emphasizes its role as a trusted advisor, helping customers maximize their investment through training and support. Nutanix praised ePlus for its customer-centric approach and technical proficiency, underscoring its importance as a partner in advancing hybrid multicloud solutions.
On December 14, 2022, ePlus inc. (NASDAQ: PLUS) announced an expansion of its holiday campaign to support children in four hospitals across California, New York, Texas, and Virginia. The initiative includes virtual Santa experiences, streaming into over 200 patient rooms, and the distribution of holiday gifts like toys, books, and blankets. ePlus is also facilitating a national toy drive and providing gift cards to patient families. CEO Mark Marron emphasized the importance of giving back to the community during the holiday season.
ePlus inc. (NASDAQ: PLUS) has successfully earned multiple attestations for its Managed Services Center, Service Desk, and Cloud Hosted Services. The company achieved the Type 2 SSAE 18 (SOC 1) examination and the Type 2 SSAE 18 (SOC 2) examination, ensuring effective controls over security, availability, and confidentiality. Additionally, ePlus completed an attestation related to its Information Security Program under HIPAA and HITECH. These attestations cover the period from August 1, 2021, to July 31, 2022, affirming ePlus's commitment to operational excellence and customer service.
ePlus inc. (NASDAQ: PLUS) has received four significant awards at the Cisco Partner Summit, including U.S. Partner of the Year and Global Marketing Partner of the Year. The awards recognize ePlus's innovation and successful sales strategies that drive substantial customer outcomes. Cisco's executives praised ePlus for its customer focus and commitment to excellence in the evolving digital landscape. The recognition includes the Americas Marketing Partner of the Year and Enterprise Networking Partner of the Year for the U.S. East Region, highlighting ePlus's impactful contributions.
ePlus inc. (NASDAQ: PLUS) reported a strong second quarter for fiscal year 2023, with net sales rising 7.8% to $493.7 million and technology segment sales increasing 8.1%. Service revenues grew 7.1% to $65.2 million. Adjusted gross billings surged 15.3% to $765.8 million, while consolidated gross profit grew 8.4% to $133.3 million, with a gross margin of 27.0%. Despite this growth, net earnings decreased 9.4% to $28.5 million, and diluted earnings per share fell 8.5% to $1.07.
ePlus inc. (NASDAQ: PLUS) has become the first North American partner qualified in Cisco's Partner Lifecycle Services Support (PLS-S) program. The newly launched ePlus Lifecycle Services Support (eLSS) aims to streamline technical support for Cisco and adjacent technologies by providing centralized first-call support. Customers can expect faster resolution times and predictable costs. ePlus has developed this co-delivered model to address shifts in technology consumption and support, enhancing its existing services portfolio, which includes managed services and device-level support.
ePlus inc. (NASDAQ: PLUS) announced an increase in its credit facility from $375 million to $425 million, enhancing its working capital financing capacity. The credit agreement now allows a senior secured revolving credit facility of $150 million, up from $100 million. Additionally, all loans have transitioned from a LIBOR rate to a Term SOFR rate. CFO Elaine Marion expressed confidence that these financial adjustments will support customers' digital transformation initiatives across various technology solutions.
On October 28, 2022, ePlus inc. (NASDAQ: PLUS) announced that its CFO, Elaine Marion, received the 2022 Distinguished Alumni Award from the George Mason University School of Business. This award recognizes professional achievement across sectors. Dean Ajay Vinzé praised Marion's commitment to the community and technology sector. Marion expressed gratitude for her education and commitment to the university's future. ePlus continues to focus on leveraging technology for transformative business outcomes.
ePlus inc. (NASDAQ: PLUS) announced it will release earnings on November 3, 2022, after market close. The earnings will cover the financial results for the three and six months ended September 30, 2022. Following the release, a conference call and audio webcast will take place at 4:30 p.m. ET. Investors can access the call via a toll-free number or through a provided audio webcast link. A replay will be available for approximately two weeks after the call.