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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (216039)	1/22/2003 4:25:08 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

Fourth quarter highlights include: -- Named No. 13 on FORTUNE Magazine's "100 Best Companies to Work for in America," achieving the highest ranking for a Fortune 500 company. -- 17.2 percent year-over-year increase in public sector sales to $208.2 million. -- 4.3 percent year-over-year increase in corporate sector sales to $845.8 million. -- Solid revenue growth for nearly all product categories, and growth rates exceeding 12 percent for input devices, video, memory, network/communications, and printers. The gross profit margin was 13.2 percent of sales in the fourth quarter of 2002, equal to the gross profit margin achieved in the same period of 2001. Compared with prior year, the gross profit margin was positively impacted by improvements in product mix and selling margins, offset by the elimination of the Microsoft Upgrade Advantage product and lower vendor rebates. Selling and administrative expenses as a percentage of sales decreased to 6.3 percent in the fourth quarter of 2002 from 6.4 percent in the same period of 2001. "With regard to first quarter projections, we continue to be cautious regarding the economy," said Edwardson. "We project total sales for the first quarter of 2003 in the range of $1.040 billion to $1.070 billion. Earnings for the first quarter of 2003 are projected to be $0.48 to $0.50 per diluted share.