Connection reports Q3 2017 results

Connection (PC Connection, Inc.; NASDAQ: CNXN), a technology solutions provider of a full range of information technology (IT) solutions to business, government, and education markets, has announced results for the quarter ended September 30, 2017, the company said.

Net sales for the quarter ended September 30, 2017 increased by 2.9% to USD 729.2 million, compared to USD 708.5 million for the prior year quarter. Its revenue growth in the quarter ended September 30, 2017 was affected by Hurricanes Harvey and Irma. It experienced delays in shipments from key suppliers and affected customers were unable to receive products which negatively impacted revenue by approximately 3%.

Net income for the quarter ended September 30, 2017 decreased by 3.5% to USD 13.1 million, or USD 0.49 per diluted share, compared to net income of USD 13.6 million, or USD 0.51 per diluted share for the prior year quarter.

Net sales for the nine months ended September 30, 2017 were USD 2,149.6 million, an increase of USD 192.6 million or 9.8%, compared to USD 1,957.0 million for the nine months ended September 30, 2016.

Net income for the nine months ended September 30, 2017 was USD 34.1 million, or USD 1.27 per diluted share, compared to net income of USD 35.1 million, or USD 1.32 per diluted share, for the nine months ended September 30, 2016.

Earnings before interest, taxes, depreciation and amortization, adjusted for stock-based compensation expense and rebranding, acquisition and restructuring costs (“Adjusted EBITDA”), a non-GAAP measure, totaled USD 92.4 million for the twelve months ended September 30, 2017, compared to USD 94.8 million for the twelve months ended September 30, 2016.

PC Connection, Inc. and its subsidiaries, dba Connection, (www.connection.com; NASDAQ: CNXN) is headquartered in Merrimack, NH. With offices throughout the United States, Connection delivers custom-configured computer systems overnight from its ISO 9001:2008 certified technical configuration lab at its distribution center in Wilmington, OH.