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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 (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.
Connection (NASDAQ: CNXN), an IT solutions provider, has been awarded the ServiceNow 2024 Americas Reseller Partner of the Year. This recognition highlights Connection's excellence in driving sales of Now Platform products and offering superior ServiceNow professional services. Tim McGrath, Connection's President and CEO, emphasized the company's commitment to delivering exceptional customer outcomes and leveraging ServiceNow technologies internally to enhance automation and workflow efficiency. The award underscores Connection's role in guiding organizations towards digital transformation.
Connection (NASDAQ: CNXN) has been awarded a technology contract to provide products and services to Fairfax County, VA and other government agencies through the GOVMVMT Purchasing Cooperative. The contract extends through October 31, 2028, with a potential dollar volume of $200 million annually.
Connection, a leading IT solutions provider, has been awarded a $125 million Blanket Purchase Agreement to provide Microsoft products and services to the U.S. Courts and Federal Judiciary. The agreement includes a base period of three years with a three-year option, emphasizing the company's commitment to meeting the technology needs of the Federal Government.
Connection, a leading information technology solutions provider, has been named to Newsweek's Most Trustworthy Companies in America list for the third consecutive year. The company's President and CEO, Tim McGrath, expressed gratitude for the recognition, emphasizing the importance of integrity, transparency, and trust in their relationships with customers, partners, employees, and investors.
Connection (CNXN) reported its first quarter 2024 results with net sales of $632.0 million, a 13.1% decrease year-over-year. Gross profit was $118.1 million, down 3.5% year-over-year. Net income dropped by 7.4% to $13.2 million, with diluted EPS at $0.50. The company also declared a $0.10 quarterly dividend per share and increased its share repurchase program by $40.0 million.
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