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About PC Connection, Inc. (CNXN)
PC Connection, Inc., operating under the brand name Connection, is a leading provider of comprehensive IT solutions designed to empower organizations across diverse sectors, including business, government, healthcare, and education. Established in 1982, the company has built a reputation for delivering innovative technology solutions that drive growth, enhance productivity, and foster innovation. With a customer-centric approach, Connection combines advanced technology, expert guidance, and exceptional service to address complex IT challenges and optimize technology investments.
Core Business Areas
Connection operates through three primary business segments:
- Business Solutions: Tailored IT products and services for commercial enterprises, enabling them to enhance operational efficiency and achieve strategic goals.
- Public Sector Solutions: Specialized offerings for government agencies, educational institutions, and healthcare organizations, addressing unique regulatory and operational requirements.
- Global Procurement Services: Comprehensive procurement solutions leveraging a network of over 500 suppliers across 174 countries, ensuring seamless access to cutting-edge technology worldwide.
Revenue Model
PC Connection generates revenue through a mix of direct sales, managed IT services, and global procurement solutions. The company’s highly trained account managers and on-staff experts provide personalized guidance to customers, ensuring that they receive the most effective technology solutions for their needs. Additionally, the company’s efficient e-commerce platforms streamline the procurement process, offering customers a seamless and scalable purchasing experience.
Industry Context and Market Position
The IT solutions industry is characterized by rapid technological advancements and increasing demand for digital transformation across sectors. Connection has positioned itself as a trusted partner in this landscape by emphasizing expertise, reliability, and customer-centric innovation. Recognized twice by Forbes as one of “America’s Most Trustworthy Companies,” the company has demonstrated a strong commitment to ethical business practices and long-term customer relationships. Its ability to adapt to evolving technology trends and deliver value-driven solutions has solidified its standing as a key player in the IT services market.
Competitive Differentiation
Connection sets itself apart from competitors through its unique combination of:
- Expertise: A team of highly trained professionals who provide tailored IT guidance and support.
- Global Reach: An extensive supplier network spanning 174 countries, enabling seamless global procurement.
- Customer-Centric Approach: A commitment to delivering exceptional service and maximizing the value of IT investments.
- Trustworthiness: A proven track record of ethical business practices and customer satisfaction.
Values and Vision
At its core, Connection is driven by a set of values that emphasize respect, collaboration, and a shared vision for success. The company is dedicated to inspiring growth and delivering measurable value to its customers by aligning IT investments with strategic objectives. Through its innovative solutions and customer-first philosophy, Connection continues to empower organizations to navigate the complexities of the digital age.
Conclusion
PC Connection, Inc. (CNXN) is a trusted IT solutions provider with a proven ability to deliver advanced technology solutions that meet the evolving needs of its diverse customer base. By combining expertise, innovation, and a global procurement network, the company is well-positioned to address the challenges of the modern IT landscape and drive long-term value for its stakeholders.
Connection (NASDAQ: CNXN), a leading IT solutions provider, has received two prestigious awards from HP Inc. at the HP AMPLIFY Conference in Nashville. The company was honored as the HP U.S. Commercial Supplies Partner of the Year and HP U.S. Print Hardware NSP of the Year.
These awards recognize Connection's outstanding performance, growth, and collaboration in the HP partnership ecosystem. Tim McGrath, President and CEO of Connection, emphasized the company's commitment to their longstanding partnership with HP and their focus on customer service. The recognition underscores Connection's dedication to providing innovative technology solutions that enhance productivity and value across business, government, healthcare, and education markets.
Connection (NASDAQ: CNXN) has been named to the Forbes America's Best Midsize Employers list for the third consecutive year. This recognition highlights the company's success in maintaining a supportive and engaging work environment for its employees in the information technology solutions sector.
The prestigious ranking is based on an independent survey of over 217,000 U.S. employees from companies with at least 1,000 workers nationwide. The evaluation criteria included key dimensions such as Atmosphere & Development, Salary & Wage, Company Image, Diversity, Working Conditions, and Workplace Environment.
Tim McGrath, President and CEO, emphasized the company's commitment to employee empowerment and continued investment in their workforce. The Forbes America's Best Employers ranking, now in its tenth year, recognizes organizations that excel in creating environments where employees can thrive.
Connection (CNXN) reported mixed Q4 2024 results with net sales increasing 1.8% to $708.9 million, while net income decreased 12.9% to $20.7 million. Q4 diluted EPS was $0.78, down from $0.90 year-over-year. For full-year 2024, despite a 1.7% decrease in net sales to $2.8 billion, the company achieved record gross margins of 18.6% and a 4.6% increase in net income to $87.1 million.
By segment, Business Solutions saw a 3.7% decrease in sales, Public Sector Solutions grew 42.9%, and Enterprise Solutions declined 6.4%. The company declared a quarterly dividend of $0.15 per share, payable March 14, 2025. Cash position strengthened to $442.6 million, up from $297.2 million year-over-year.
PC Connection (NASDAQ: CNXN), a leading information technology solutions provider serving business, government, healthcare, and education markets, has announced it will release its fourth quarter and full-year 2024 operating results after market close on Wednesday, February 5, 2025.
The company will host a conference call at 4:30 p.m. EST on the same day, where management will review the results. Interested participants can register to receive dial-in information and a unique PIN for telephone access. Additionally, the conference call will be available via live webcast through the investor relations section of Connection's website, with replay options available.
Connection (NASDAQ: CNXN) announced that its CNXN Helix Center for Applied AI and Robotics has won first place in the Naval Information Warfare Center (NIWC) Atlantic Palmetto Tech Bridge's prize challenge. The competition sought generative AI and machine learning solutions for secure Navy applications.
The winning concept demonstrates a secure, pre-configured environment supporting both experimentation and operational use by non-AI/ML experts. The platform operates as an air-gapped AI environment, offering a flexible, scalable solution for mission-critical operations. It incorporates custom and commercial components with industry-standard best practices for data security, isolation, and confidential computing.
The challenge is part of the U.S. Government's initiative to recognize achievements in research, technology development, and prototype development. Connection will participate in additional follow-on acquisition opportunities.
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.
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