Earnings - (http://biz.yahoo.com/bw/990208/nh_pc_conn_1.html)
PC Connection, Inc. Reports Fourth Quarter and Year End Earnings
FOURTH QUARTER HIGHLIGHTS: 31.8% growth in net sales 18.5% increase in earnings per share Online Internet sales increased 205%
MERRIMACK, N.H.--(BUSINESS WIRE)--Feb. 8, 1999-- PC Connection, Inc. (NASDAQ:PCCC - news) today announced net income of $5.0 million, or $.32 per share, for the quarter ended December 31, 1998, compared to pro forma net income of $3.9 million, or $.27 per share, for the corresponding quarter a year ago, an increase of $.05 per share, or 18.5%. Net sales were $220.3 million for the fourth quarter of 1998, compared to $167.1 million for the corresponding quarter a year ago, an increase of $53.2 million, or 31.8%.
The Company reported pro forma net income of $15.3 million, or $.98 per share, for the year ended December 31, 1998, compared to pro forma net income of $10.9 million, or $.76 per share, for the corresponding period a year ago. Excluding a one-time charge for the acceleration of certain stock option compensation expense described below, the Company would have reported pro forma net income of $15.8 million, or $1.02 per share, for the year ended December 31, 1998, an increase of $.26 per share over the prior year period, or 34.2%. Net sales were $732.4 million for the year ended December 31, 1998, compared to $550.6 million for the corresponding prior year period, an increase of $181.8 million, or 33.0%. |
