Information technology products merchant PC Connection saw its fourth-quarter and 12-month sales fall for the period ended Dec. 31. Net sales for the quarter decreased 10%, to $439.1 million and slipped 2%, to $1.75 billion for the fiscal year.
Fourth-quarter net income plummeted nearly 70%, to $1.9 million, down from $6.2 million for the same period in 2007. PC Connection’s net income for the fiscal year fell 35%, to $15 million, compared with $23 million last year.
PC Connection chairman/CEO Patricia Gallup said in a release: “Our results for the quarter reflected the decline in demand for IT products. Customers are taking a wait-and-see attitude toward IT spending as they try to determine what their own demand, technology budgets, and staffing levels will be for the year.”