PC Mall's Q3 profit beats expectations
PC Mall, Inc. (Nasdaq: MALL) shares are up after the technology products marketer reported third-quarter profit of $3 million, or $0.22 per share, above analyst predictions of $0.19 per share and up 58% from $1.9 million, or $0.15 per share, a year earlier.
“We are very pleased with our record third quarter 2007 results,” CEO Frank Khulusi said in a statement. “Our laser-sharp focus on profitability and sales growth has contributed to this strong performance.”
The Torrance, Calif.-based company’s quarterly sales grew 19% to $287.7 million, above Wall Street projections of $268.7 million and compared with $242.2 million a year earlier. PC Mall’s sales were boosted by a 79% increase in public sector revenue.
On Sept. 17, PC Mall completed the acquisition of information technology company Sarcom, Inc.
“We believe that SARCOM, now a wholly owned subsidiary of PC Mall, Inc., will enhance PC Mall’s capabilities as a reseller of advanced technology product solutions and services,” Khulusi said.
In morning trading, MALL shares are up 1.48%, or $0.28, at $18.90. Over the last 52 weeks, shares have ranged from $7.30 to $20.50.
