Welcome to our dedicated page for PC Connection news (Ticker: CNXN), a resource for investors and traders seeking the latest updates and insights on PC Connection stock.
PC Connection Inc. (CNXN) is a leading global IT solutions provider dedicated to connecting people with technology to enhance growth, elevate productivity, and empower innovation. Founded in 1982, the company offers a wide range of IT services and advanced technology solutions tailored to business, government, healthcare, and education markets.
Core Business: PC Connection Inc. provides products such as computer systems, software, peripheral equipment, networking communications, and other accessories sourced from manufacturers and distributors. The company also offers comprehensive services involving the design, configuration, and implementation of IT solutions.
Business Segments: The company operates through three primary segments:
- Connection Business Solutions: Focuses on small to mid-sized businesses.
- Connection Enterprise Solutions: Caters to large enterprises and generates the maximum revenue for the company.
- Connection Public Sector Solutions: Serves government, educational institutions, and healthcare organizations.
Recent Achievements: PC Connection Inc. has been recognized twice by Forbes as one of “America’s Most Trustworthy Companies.” This accolade underscores the company’s commitment to providing expert guidance, state-of-the-art tools, and exceptional service to its customers.
Global Reach: The company delivers global procurement solutions through a network of 500 suppliers across 174 countries. This extensive reach allows PC Connection Inc. to support its customers with a wide array of products and services on a global scale.
Values: The company operates on core values of respect, mutual trust, and a common vision to create a winning culture. These values drive PC Connection Inc. to not only meet but exceed customer expectations and continuously inspire success within the community.
Current Projects and Financial Condition: PC Connection Inc. continues to expand its product offerings and services to meet the evolving needs of its clients. The company’s financial health is robust, supported by its diverse revenue streams across its business segments. With a focus on innovation and customer satisfaction, PC Connection Inc. is well-positioned for continued growth and success.
Connection (NASDAQ: CNXN) has been named to Newsweek's 2024 list of World's Most Trustworthy Companies. The recognition highlights the company's success in building trust among customers, investors, and employees. The award, presented in partnership with Statista Inc., was based on an extensive survey involving over 70,000 participants and 230,000 evaluations, along with analysis of social platform mentions.
Tim McGrath, President and CEO, emphasized trust as an integral part of Connection's culture, highlighting the company's commitment to maintaining the confidence of stakeholders through exceptional service, support, and integrity.
Connection (CNXN) reported strong Q3 2024 results with net sales of $724.7 million, up 4.6% year-over-year. The company achieved record net income of $27.1 million, a 5.7% increase, resulting in diluted EPS of $1.02 compared to $0.97 in the prior year. Gross profit rose 2.7% to $135.4 million, though gross margin decreased 30 basis points to 18.7%. Notable segment performance included Public Sector Solutions growing 18.7% and Enterprise Solutions increasing 7.4%, while Business Solutions declined 6.1%. The Board declared a quarterly dividend of $0.10 per share, payable November 29, 2024.
PC Connection, Inc. (NASDAQ: CNXN), a leading IT solutions provider, has announced the release date for its third quarter 2024 operating results. The company will disclose its financial performance after market close on Wednesday, October 30, 2024. Following the release, management will host a quarterly conference call at 4:30 p.m. EDT to review the results.
Interested participants can join the call via telephone by registering to receive dial-in information and a unique PIN. Additionally, a live webcast of the conference call will be accessible through the investor relations section of the company's website at https://ir.connection.com. Replays of the call will also be available on the same platform for those unable to attend the live event.
Connection (NASDAQ: CNXN) announced the winners of its fourth annual IT Superhero Awards at the Connection Technology Summit in Boston. The 2024 individual category winners are:
- Best Team Leader: David Lockstein, Watertown Unified School District, Wisconsin
- Best Rookie: Bryce Bonilla, Manufacturing Sciences , Tennessee
- Best Catch: Jack Mincks, Spokane R-7 School District, Missouri
- Most Unshakeable: Ashley Hanovich, First State Bank, Michigan
- Best Superpower: Susan Chandler, Jasper City Schools, Alabama
Susan Chandler was also named the 2024 Ultimate IT Superhero Award winner. Connection made donations to charities chosen by the winners, supporting NCWIT and Feeding America. Nominations for the 2025 IT Superhero Awards are now open to IT professionals nationwide.
Connection (NASDAQ: CNXN), a leading IT solutions provider, has been named one of America's Best Mid-Size Companies by TIME Magazine. The recognition is based on employee satisfaction, revenue growth, and sustainability transparency. The 2024 ranking considered U.S. companies with annual revenues between $100 million and $10 billion.
Key evaluation criteria included:
- Employee satisfaction data from surveys
- Revenue growth from internal databases
- ESG data on environmental, social, and corporate governance
CEO Tim McGrath expressed pride in the company's recognition, highlighting their 40+ years of industry leadership and commitment to customer service, innovation, and ESG initiatives. The complete list is available on TIME's website.
Connection (CNXN) reported strong Q2 2024 results, achieving record net income and earnings per share. Net sales increased 0.4% year-over-year to $736.5 million, while gross profit rose 6.9% to $136.5 million. Net income surged 32.8% to $26.2 million, with diluted EPS reaching $0.99, up from $0.75 in the prior year quarter. The company's gross margin expanded 112 basis points to 18.5%.
Performance varied across segments, with Business Solutions and Enterprise Solutions showing growth, while Public Sector Solutions experienced a decline. The company's product mix saw increases in notebook/mobility, desktop, software, and server/storage sales, offset by decreases in networking and accessories. Connection also declared a quarterly dividend of $0.10 per share.
PC Connection, Inc. (NASDAQ: CNXN), a leading IT solutions provider, has announced the release of its second quarter 2024 operating results. The company will disclose these results after the market closes on Wednesday, July 31, 2024. Following this, management will conduct a quarterly conference call at 4:30 p.m. EDT to review the results.
Interested participants can join the call via telephone by registering to receive the dial-in number and a unique PIN. Additionally, a live webcast of the conference call will be accessible through the investor relations section of the company's website at https://ir.connection.com. Replays of the call will also be available on the same platform.
Connection has partnered with Microsoft to support the Aviation Museum of New Hampshire in Londonderry through the donation of 20 Surface Laptop 5 devices and accessories. This initiative is part of Connection's Connection Cares program and aims to inspire young people to pursue careers in aerospace. The museum will use these devices in its Flights of Discovery summer camp, where participants will design and build future airports using Microsoft Surface and Minecraft. Additionally, the devices will aid in designing airfoils for 3D printing and testing, and help students in building resumes and business cards. This collaboration seeks to connect students with technology, enhancing their skills and preparing them for careers in the aviation industry.
Connection (CNXN), a leader in IT solutions for business, government, healthcare, and education, has won the 2024 Federal Rising Star Partner of the Year award from Dell Technologies. This accolade highlights the company's outstanding performance and growth in the Federal marketplace. Larry Kirsch, President of Connection Public Sector Solutions, attributes this success to the team's technical expertise, customer service, and tailored technology solutions for Federal clients. The company aims to continue exceeding customer expectations with their specialized services.
Connection, a top IT solutions provider, is partnering with Microsoft, Qualcomm, and other OEMs to launch the Copilot+ PCs, a new generation of AI-powered Windows-based devices. These devices, featuring Qualcomm Snapdragon X Elite and X Plus processors on Arm64 architecture, promise a user experience 100x more efficient for AI tasks than prior models. The first Copilot+ PCs, including devices from Microsoft, Acer, ASUS, Dell, HP, Lenovo, and Samsung, will debut in June 2024. Connection will provide services to assist with the integration of these advanced AI tools, enhancing productivity and aligning IT investments with strategic priorities.
The initiative aligns with Microsoft's Strategic Refresh Initiative, and Connection has been recognized as a Microsoft Solutions Partner across multiple areas, including Business Applications, Data & AI, and Security.
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