PC Connection, Inc.'s Q2 earnings beat estimates
Technology products direct marketer PC Connection, Inc. (Nasdaq: PCCC) shares are up after the Merrimack, N.H.-based company reported increased second-quarter earnings. For the three months, the company recorded revenue of $5.8 million, or $0.21 per share, compared with $3.1 million, or $0.12 per share, a year earlier.
Wall Street analysts were expecting $0.19 earnings per share on $432.3 million in revenue.
PC Connection's quarterly income was $9 million, up from $5.76 million in the prior year's second quarter. During the period, net sales increased to $441.1 million, from $408.1 million.
"We are pleased with the solid overall year-over-year sales growth of PC Connection, Inc. GovConnection, our Public Sector business, led the way with a 17% increase in revenue," CEO Patricia Gallup said. "We also achieved strong growth in earnings with a 57% increase in operating income and a 75% increase in earnings per share over the second quarter of 2006."
In late afternoon trading, shares of the small-cap company were up $1.09, or 9.12%, at $13.04. Over the last 52 weeks, shares have ranged between $5.61 and $18.80.
