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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.
PC Connection, Inc. (NASDAQ: CNXN) will announce its Q2 2022 operating results on August 4, 2022, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET that day. Investors can access the call via the investor relations website. The company, known for providing IT solutions across various sectors including business and education, is headquartered in Merrimack, NH, and operates through multiple subsidiaries, catering to a wide range of clients and offering over 460,000 products.
Connection (NASDAQ: CNXN) announces the second annual IT Superhero Awards in partnership with TechCrunch, recognizing outstanding IT professionals. Nominations are open until August 31, 2022, with winners revealed at the TechCrunch Disrupt event on October 20, 2022 in San Francisco. Categories include Best Team Leader and Most Unshakeable, with prizes benefiting charities like Year Up and NPower. Each category winner receives a $1,000 donation in their name, while the Ultimate IT Superhero gets $2,000.
PC Connection, Inc. (CNXN) has been named the 2021 Growth Partner of the Year, North America, by Veeam Software in recognition of its growth and technical proficiency in providing Veeam solutions. This award highlights Connection's success in addressing customers' data management challenges, particularly amid increasing data volumes. Tim McGrath, CEO, emphasized their commitment to enhancing data protection solutions for customers. The award was presented at VeeamON 2022, indicating Connection's strong support and expertise in the industry.
Connection (NASDAQ: CNXN) reported a strong performance for Q1 2022, with net sales of $788.3 million, a 23.8% increase year-over-year. Net income soared 114.0% to $21.8 million, with diluted EPS at $0.83, also up 113.6% year-over-year. Business Solutions segment sales rose 30.1%, while Public Sector Solutions grew 5.8%. Despite a rise in SG&A expenses to $98.2 million, the percentage of sales decreased to 12.5%. Cash reserves stood at $67.4 million.
PC Connection, Inc. (NASDAQ: CNXN) will announce its Q1 2022 financial results after market close on May 5, 2022. A conference call will follow at 4:30 PM ET to discuss these results. Investors can participate by calling in or accessing the replay via the company’s investor relations website. PC Connection is known for providing tailored IT solutions to various sectors, including business and government, backed by an extensive product range and technical expertise.
Connection (NASDAQ: CNXN) reported a strong fourth quarter and full-year financial performance for 2021. Net sales for Q4 reached $800.2 million, up 18.4% year-over-year, with net income rising 37.4% to $22.4 million. For the full year, net sales increased to $2.9 billion, an 11.7% increase, with net income climbing 25.4% to $69.9 million. The Enterprise and Business Solutions segments achieved record revenues. However, the Public Sector Solutions segment saw a 4.1% decline in sales due to decreased federal government revenue.
Connection (NASDAQ: CNXN) is set to announce its fourth quarter and full-year 2021 operating results on February 7, 2022, after market close. The management will discuss these results during a conference call at 4:30 p.m. ET. Investors can access the call via phone or through a live webcast available on the company’s investor relations website. Connection specializes in providing IT solutions to various sectors, including business, government, and healthcare, and is renowned for its fast delivery of custom-configured computer systems from its distribution center in Wilmington, OH.
TRUCE Software announced a strategic expansion of its distribution network by partnering with TD SYNNEX and 3Eye Technologies. This move aims to enhance accessibility to their Contextual Mobility Management (CMM) solutions for enterprise buyers. As demand for digital transformation grows, TRUCE's products are increasingly integrated into comprehensive Enterprise Mobility Management offerings. The partnerships follow recent agreements with Connection and Insight, emphasizing TRUCE's commitment to optimizing employee experiences in mobile technology.
Connection (NASDAQ: CNXN) announced a special cash dividend of $1.00 per share, payable on December 3, 2021, to shareholders on record by November 18, 2021. This dividend totals approximately $26.2 million. Timothy McGrath, CEO, highlighted the company's strong balance sheet, which supports dividend payments and business growth. Future dividends will depend on the company's financial health and strategic plans.
Connection (NASDAQ: CNXN) reported third-quarter results with net sales of $751.4 million, a 15.1% year-over-year increase. Gross profit rose by 11.9% to $120.7 million, while net income increased 18.4% to $20 million or $0.76 per diluted share. Sales growth was driven by a 24% increase in Manufacturing and a 10% increase in Healthcare. However, the Public Sector Solutions segment saw a 1.1% decline. SG&A expenses rose to $93.4 million, but as a percentage of sales, it decreased to 12.4%.
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