Connection net Income up 4.9% from prior Q3

Connection (PC Connection, Inc.; NASDAQ: CNXN), a technology solutions provider to business, government, and education markets, has announced results for the third quarter ended September 30, 2018, the company said.

Net income for the third quarter ended September 30, 2018 increased by 4.9% to USD 13.8 million, or USD 0.51 per diluted share, compared to net income of USD 13.1 million, or USD 0.49 per diluted share for the prior year third quarter.

Net sales as presented for the quarter ended September 30, 2018 were USD 658.5 million. Net sales prior to the impact of the new revenue recognition standard for the quarter ended September 30, 2018 increased by 5.1% to USD 766.3 million, compared to USD 729.2 million for the prior year third quarter.

Gross profit as presented for the quarter ended September 30, 2018 was USD 100.4 million. Gross profit prior to the impact of the new revenue recognition standard for the quarter ended September 30, 2018 was USD 100.7 million, compared to USD 96.1 million in the prior year third quarter, an increase of 4.7%.

Gross margin as presented for the quarter ended September 30, 2018 was 15.3%. Gross margin prior to the impact of the new revenue recognition standard was 13.1%, compared to 13.2% for the prior year third quarter.

PC Connection, Inc. and its subsidiaries, dba Connection, (www.connection.com; NASDAQ: CNXN) is a Fortune 1000 company headquartered in Merrimack, NH. With offices throughout the United States, Connection delivers custom-configured computer systems overnight from its ISO 9001:2015 certified technical configuration lab at its distribution center in Wilmington, OH.