Record 2Q for CDW
Vernon Hills, IL-based CDW Computer Centers (Nasdaq: CDWC) posted a 6% rise in second-quarter revenue, to a record $1.057 billion. Net income rose a more modest 2%, from $43.0 million to $44.1 million. Sales to the public sector climbed 26%, to $217.3 million.
Operating income up 15% at Office Depot Office products conglomerate Office Depot (NYSE: ODP), which mails the Viking Office Products catalog, posted a 15% increase in second-quarter operating income, to $92.7 million. Total catalog and retail sales grew 4%, to $2.6 billion for the quarter ended June 29. Comparable store sales in its 847 stores were flat. Delray Beach, FL-based Office Depot does not break out sales in its Viking catalog business. Worldwide Web sales grew 38%, to $498 million for the quarter.
Quarterly sales at Black Box decline 25% The lack of corporate spending on IT projects led to a decline in second-quarter sales and income for Pittsburgh-based network cabling cataloger Black Box Corp. (Nasdaq: BBOX). For the three months ended June 30, Black Box reported sales of $154.0 million, down 25% from $207 million for the same quarter of last year. Net income dipped 3%, to $14.7 million from $15.1 million.
“Our goal entering this quarter was to reduce eliminate the significant sequential decline in our top line,” CEO Fred C. Young, said in a statement. “While $154 million is not $160 million, it does represent the smallest sequential percentage and dollar revenue decline for our last five quarters. We see this as step one in the process of returning to growth.”