WSTG - WSTG STOCK NEWS

Wayside Technology Group (NASDAQ: WSTG) will present at the Sidoti Virtual Microcap Investor Conference on May 19-20, 2021. The company's presentation is scheduled for May 19 at 1:00 PM Eastern Time. Investors can access the presentation through the company's website. Wayside specializes in IT distribution and solutions for emerging technologies in various sectors, including Security, Cloud, and Data Management. For more information regarding the conference or to arrange one-on-one meetings, investors can contact Sidoti representatives or Wayside’s investor relations team.

Wayside Technology Group (NASDAQ: WSTG) reported its Q1 2021 results, showing a net sales increase to $62.8 million from $62.6 million. Gross profit surged 33% to a record $10.8 million. Net income rose 82% to $1.5 million ($0.35 per share). Excluding certain costs, net income fell to $1.5 million ($0.35 per share), down from $2.1 million a year ago. Adjusted EBITDA was $2.6 million, down from $3.1 million. The company announced a quarterly dividend of $0.17 per share, payable on May 21, 2021. Cash and equivalents rose 15% to $33.7 million, remaining debt-free.

Wayside Technology Group (NASDAQ: WSTG) has rescheduled its Q1 2021 conference call to 8:30 a.m. Eastern time on May 6, 2021. The call will cover financial results from the first quarter, which ended on March 31, 2021. Interested parties can join via toll-free dial-in numbers, with an operator available to assist. The call will be broadcast live, with a replay available on the company’s investor relations website. The company specializes in IT distribution for emerging technologies, operating in North America and Europe.

Wayside Technology Group (NASDAQ: WSTG) announced a conference call on May 6, 2021, at 5:00 p.m. ET to discuss its Q1 2021 financial results, which will be released beforehand. The call includes a Q&A session with management, and participants are encouraged to dial in 5-10 minutes early. The company operates across North America and Europe, providing IT distribution and solutions for emerging technologies. Key risks include potential impacts from the COVID-19 pandemic on its business and financial performance.

Wayside Technology Group reported strong financial results for Q4 and FY 2020. Net sales rose 17% to $71.4 million, while gross profit surged 34% to $10.5 million. Net income increased by 25% to $2.5 million, marking a successful recovery from the pandemic's impact. For the full year, net sales reached $251.6 million, a 21% increase compared to 2019. The company also maintained a debt-free status, and cash reserves rose to $29.3 million. A quarterly dividend of $0.17 per share was declared, emphasizing shareholder value.

Wayside Technology Group (NASDAQ: WSTG) will hold a conference call on March 2, 2021, at 8:30 a.m. ET to discuss its financial results for Q4 and the full year ending December 31, 2020. Results will be released before the call. Participants can dial in using the toll-free number (844) 946-0286 or international (602) 585-9685 with conference ID 5275668. The call will include a Q&A session. Wayside specializes in IT channel sales and distribution, leveraging its subsidiary Climb Channel Solutions for technology vendors.

TechXtend, a subsidiary of Wayside Technology Group (NASDAQ: WSTG), has become the exclusive North American distributor for the Sharpen Up Schools Mental Health Solution developed by Resiliency Technologies, Inc. This partnership aims to enhance behavioral health outcomes in communities by providing scalable mental health resources in schools. The Sharpen platform connects trauma-informed practices with educational institutions, promoting safety and improved mental health for students and staff.

Wayside Technology Group reported a 16% increase in net sales to $60.9 million for Q3 2020, compared to $52.4 million in Q3 2019. Gross profit grew 3% to $7.2 million, while net income dropped to $0.5 million or $0.13 per share, down from $1.4 million or $0.32 per share the previous year. The company made significant strides in integrating Interwork and acquiring CDF Group to bolster its market position. Cash reserves increased to $40.3 million, and SG&A expenses rose to $6.4 million. A dividend of $0.17 per share was declared, payable on November 27, 2020.

Wayside Technology Group (NASDAQ: WSTG) has acquired UK-based CDF Group for approximately $17.4 million. This strategic acquisition is expected to enhance Wayside's cloud and software offerings, particularly in the EMEA market. CDF's expertise in Microsoft Azure and its established cloud services platform will provide synergistic benefits and is anticipated to increase Wayside's annual gross billings by 10%. The acquisition, which includes CDF's 125 employees and extensive vendor partnerships, is expected to be accretive to net income and EBITDA margins.