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 received the Windows Server and SQL Server Migration to Microsoft Azure advanced specialization from Microsoft. This distinction highlights Connection’s expertise in migrating workloads to Azure, validated by stringent criteria around customer success and third-party audits. Connection’s President, Tim McGrath, emphasized that this recognition enhances client confidence in adopting cloud technologies. Microsoft's Rodney Clark acknowledged Connection’s demonstrated capabilities in facilitating successful migrations to Azure.
Connection (NASDAQ: CNXN) has been awarded the title of Federal Public Sector Partner of the Year by Aruba during the Aruba Atmosphere '21 event. This recognition highlights Connection's strong performance, technical skills, and commitment to customer service excellence, particularly during the ongoing digital transformation amid the COVID-19 pandemic. Larry Kirsch, President of Connection Public Sector Solutions, emphasized their capability to deliver secure and agile technology solutions, underscoring the honor as a testament to their expertise in the evolving IT landscape.
Connection (NASDAQ: CNXN) announced its public sector subsidiary has secured one of the GSA’s 2nd Generation Information Technology Blanket Purchase Agreements. This $5.5 billion contract spans five years and allows Connection to provide IT hardware, software, and services to government agencies. The CEO emphasized the importance of this contract in supporting the technology needs of federal customers and enhancing service flexibility.
Connection aims to leverage this opportunity to strengthen its reputation as a trusted IT provider.
PC Connection (NASDAQ: CNXN), an IT solutions provider, announces the appointment of Larry S. Kirsch as President of Connection Public Sector Solutions. Mr. Kirsch brings over 25 years of experience from various tech firms, including CDW and PCM-G. His leadership is expected to enhance growth and service for government and education markets. This addition aims to leverage Kirsch's proven track record and industry knowledge to benefit Connection's clients.
Connection (NASDAQ: CNXN) reported a 10.5% decline in net sales for Q1 2021, totaling $636.9 million, largely due to pandemic-driven supply chain disruptions. Net income fell 31.6% to $10.2 million. Despite these challenges, the company saw strong demand in its notebook and mobility products, boosted by workplace transformations. The Public Sector Solutions segment thrived with a 25.7% revenue increase. Connection remains optimistic about growth prospects in 2021, citing record backlog levels.
Connection (NASDAQ: CNXN) announces an updated dial-in number for its Q1 2021 financial results conference call scheduled for May 6th at 4:30 p.m. ET. Investors can listen in by calling 866-436-9172 (US) or 630-691-2760 (International) and entering confirmation number 50157917. The company offers a wide range of IT solutions to various sectors including business, government, and education.
Connection (NASDAQ: CNXN) will announce its first quarter 2021 financial results on May 6, 2021, after market close. The management team will host a conference call at 4:30 p.m. ET to discuss the results. Investors can join the call by dialing the provided numbers or accessing it online through the company's investor relations website. Connection operates as a leading IT solutions provider across various sectors, offering extensive products and services, including custom-configured computer systems.
Connection (NASDAQ: CNXN) reported its Q4 2020 results, showing a 5.7% decline in net sales to $675.7 million year-over-year, attributed to COVID-19 impacts and supply chain issues. Net income dropped 25.8% to $16.3 million, or $0.62 per diluted share. Throughout 2020, the company faced an 8.1% revenue decline, totaling $2.6 billion. However, segments like SLED and manufacturing posted over 20% growth. The company anticipates continued momentum in 2021, particularly in mobility, security, and managed services.
Connection (NASDAQ: CNXN) is set to release its fourth quarter and full-year 2020 operating results on February 24, 2021, after market close. A conference call will follow at 4:30 p.m. ET, accessible via phone or webcast. The company, headquartered in Merrimack, NH, offers IT solutions to various sectors, delivering custom-configured computer systems from its certified facility. With over 2,500 technical certifications, Connection aims to address complex customer needs and services international clients through its GlobalServe subsidiary.
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