Connection reports record Q2 2017 results

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 June 30, 2017, the company said.

Net sales for the quarter ended June 30, 2017 increased by 10.9% to USD 749.8 million, compared to USD 676.2 million for the prior year quarter. Net income for the quarter ended June 30, 2017 increased by 9.0% to USD 13.6 million, or USD 0.51 per diluted share, compared to net income of USD 12.5 million, or USD 0.47 per diluted share for the prior year quarter.

The second quarter 2017 results include USD 0.9 million of severance and restructuring costs. Earnings per share, adjusted for severance and restructuring charges, increased to USD 0.53 cents per share for the quarter ended June 30, 2017, compared to USD 0.49 cents per share for the prior year quarter.

Net sales for the six months ended June 30, 2017 were USD 1,420.4 million, an increase of USD 171.8 million or 13.8%, compared to USD 1,248.6 million for the six months ended June 30, 2016. Net income for the six months ended June 30, 2017 was USD 21.0 million, or USD 0.78 per diluted share, compared to net income of USD 21.5 million, or USD 0.81 per diluted share, for the six months ended June 30, 2016.

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 9001:2008 certified technical configuration lab at its distribution center in Wilmington, OH.