CNXN FY 2018 Earnings Report — PC Connection, Inc. Revenue & Financial Results | Market Cap Arena

PC Connection, Inc.CNXN

FY 2018 Earnings

Reported February 7, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.9B	—	-7.3%
Op. Income	$86M	—	$78M	—	10.5%
Gross Margin	15.2%	—	13.1%	—	2.1pp
Net Margin	2.4%	—	1.9%	—	0.5pp
EPS (Diluted)	$2.41	—	$2.04	—	18.1%
Free Cash Flow	$66M	—	$8M	—	772.7%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$411M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$294M
SG&A Expenses	$324M
Other Expenses	$3M
Operating Expenses	$324M
Cost & Expenses	$2.6B
OPERATING INCOME	$86M
Interest Income	$3M
Interest Expense	$145.0K
Other Income/Expenses	$3M
INCOME BEFORE TAX	$89M
Income Tax Expense	$24M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$14M
EBIT	$89M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$411M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$294M
SG&A Expenses	$324M
Other Expenses	$3M
Operating Expenses	$324M
Cost & Expenses	$2.6B
OPERATING INCOME	$86M
Interest Income	$3M
Interest Expense	$145.0K
Other Income/Expenses	$3M
INCOME BEFORE TAX	$89M
Income Tax Expense	$24M
Net Income from Continuing Ops	$65M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$65M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$65M
D&A	$14M
EBIT	$89M
EBITDA	$103M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$65M
Depreciation & Amortization	$14M
Stock-Based Compensation	$1M
Deferred Income Tax	$1M
Other Non-Cash Items	$2M
Change in Working Capital	$4M
OPERATING CASH FLOW	$87M
Capital Expenditure	-$21M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$21M
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	$0
Common Stock Repurchased	-$15M
Common Dividends Paid	-$9M
Other Financing Activities	$609.0K
NET CASH FROM FINANCING	-$24M
FREE CASH FLOW	$66M
Net Change in Cash	$42M

Balance Sheet

Item	Amount
Cash & Equivalents	$92M
Short-Term Investments	$0
Net Receivables	$449M
Inventory	$119M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$669M
PP&E (Net)	$52M
Goodwill	$74M
Intangible Assets	$10M
Long-Term Investments	-$17M
Tax Assets	$17M
Other Non-Current Assets	$1M
TOTAL NON-CURRENT ASSETS	$136M
TOTAL ASSETS	$805M
Account Payables	$202M
Short-Term Debt	$0
Deferred Revenue	$9M
Other Current Liabilities	$9M
TOTAL CURRENT LIABILITIES	$260M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$17M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$20M
TOTAL LIABILITIES	$279M
Common Stock	$288.0K
Additional Paid-In Capital	$116M
Retained Earnings	$441M
Treasury Stock	-$31M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$526M
Minority Interest	$0
TOTAL EQUITY	$526M
TOTAL LIABILITIES & EQUITY	$805M
Total Debt	$0
Net Debt	-$92M