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. has been recognized as the 30th largest solution provider in North America on CRN's 2022 Solution Provider 500 List, highlighting the company’s significant revenue and service delivery. This ranking reflects ePlus's ability to provide advanced technology solutions in areas including security, cloud, data center, and networking, ensuring clients can leverage their technology investments. CEO Mark Marron stated that this achievement underscores the company's commitment to digital transformation and enterprise evolution, which are central to its operations.
ePlus reported strong financial results for the fourth quarter and fiscal year ended March 31, 2022. Net sales surged by 28.1% to $451.5 million, with technology segment sales up 26.4% to $419.4 million. Net earnings saw a remarkable 55.9% increase to $24.2 million, with diluted earnings per share rising 56.9% to $0.91. For the fiscal year, net sales increased 16.1% to $1.82 billion, and adjusted EBITDA rose 32.6% to $170 million. The company enters FY 2023 with a solid outlook for IT spending.
ePlus inc. (NASDAQ: PLUS) will release its earnings for the fourth quarter and fiscal year 2022 on May 25, 2022, after market close. The company will hold a conference call at 4:30 p.m. ET to discuss the financial results for the period ending March 31, 2022. Investors can access the audio webcast live and on replay through this link. A replay will be available until June 1, 2022.
ePlus inc. (NASDAQ: PLUS) has expanded its Managed Security Services portfolio to include several Fortinet solutions, such as FortiSwitch, FortiAP, FortiManager, and FortiAnalyzer. This enhancement aims to improve the efficiency and protection of clients' environments. According to Lee Waskevich, vice president of security strategy, the addition of Fortinet's offerings broadens ePlus' ability to comprehensively support customer security needs. The firm continues to focus on customized cybersecurity programs to mitigate business risks.
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ePlus inc. (NASDAQ: PLUS) announced a stock repurchase program, allowing the company to buy back up to 1,000,000 shares of its outstanding common stock over a 12-month period starting May 28, 2022. As of March 23, 2022, ePlus had approximately 26.89 million shares outstanding. Repurchases may occur in the open market or through private transactions, subject to management's discretion and market conditions. The repurchased shares will be held as treasury shares for general corporate purposes.
ePlus inc. (NASDAQ: PLUS) has been recognized for the ninth consecutive year on the CRN® 2022 Tech Elite 250 list. This accolade celebrates ePlus's commitment to excellence in providing advanced technology solutions and exceptional customer service. The company boasts over 2,200 active certifications across various domains, including cloud, security, and networking. According to COO Darren Raiguel, the recognition highlights the team's dedication to continual learning and innovation. The Tech Elite 250 showcases solution providers meeting high standards of performance in the IT channel.
ePlus (NASDAQ: PLUS) announced its participation in the Sidoti & Company Small Cap Virtual Conference on March 23, 2022, at 11:30 a.m. ET. The conference is by invitation only, showcasing ePlus's role as a consultative technology solutions provider. Founded in 1990 and headquartered in Herndon, VA, ePlus focuses on enhancing technology utilization for customers across various sectors, offering services in security, cloud, and networking, among others.
ePlus inc. (NASDAQ: PLUS) has launched its 2022 GRIT: Girls Re-Imagining Tomorrow program at six schools across California, North Carolina, and Virginia. This initiative aims to inspire over 90 students in technology careers, focusing on cybersecurity and AI. The program features STEAM education, mentorship, and guest speakers, enhancing participants' skills in coding, online safety, and personal branding. The initiative underscores ePlus's commitment to closing the gender gap in tech fields.
ePlus inc. has been recognized in CRN's 2022 Managed Service Provider (MSP) 500 List, Elite 150 category, marking its fifth consecutive year in this prestigious ranking. This list highlights top North American service providers enhancing the IT landscape. ePlus offers a diverse Managed Services portfolio, including cloud and security solutions, aiding clients in optimizing operations and managing risks. The firm holds multiple compliance attestations, ensuring quality in its offerings. The recognition reflects ePlus's commitment to delivering innovative IT solutions amid ongoing demands from organizations navigating post-pandemic challenges.