Annual sales climb at PC Mall--but income plunges

Computer reseller PC Mall (Nasdaq: MALL) enjoyed a 20% rise in annual sales. But that wasn’t enough to prevent a 97% drop in net income. For 2002 the cataloger posted net income of $148,000 on $862.8 million. In 2001, PC Mall had netted $4.5 million on sales of $718.0 million.

The company’s acquisitions, including ClubMac and Wareforce, last year accounted for more than half of its sales growth. Excluding acquisitions, revenue rose 9%.

The company had a strong fourth quarter. Sales rose 34%, to $236.3 million from $175.9 million the previous year. And net income soared 145%, to $5.4 million from $2.2 million.