Strong First Quarter for PC Connection

First-quarter sales at PC Connection rose 25.1%, to $408.3 million, up from $326.2 million for the same period in 2009. For the period ended March 31, the company posted a net income of $2.4 million, compared to a net loss of $1.6 million last year.

Net sales for the small- and medium-sized business (SMB) segment increased 27.4%, to $192.0 million. Net sales for More Direct, the company’s large account segment, jumped 39%, to 126.1 million.

According to a company release, More Direct saw large enterprise customers substantially increase their IT spend “due to the release of pent-up IT demand and PC refresh. New customer acquisition also contributed to the year-over-year increase.”

The Merrimack, NH-based computers merchant’s net sales to government and education customers (public sector segment) increased 25.5%, to $79.2 million.

“We are encouraged by the improvement in our overall performance,” said PC Connection chairman/CEO Patricia Gallup in the release. “During the quarter, the company grew sales and earnings, improved operating margins, and ended the quarter with a cash balance of $59 million. PC Connection will continue to identify opportunities to build upon our achievements and react to changing demands swiftly.”

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