PC Connection issues 3Q preliminary sales

Computer reseller PC Connection (Nasdaq: PCCC) offered investors a ray of hope by issuing preliminary third-quarter sales figures that beat expectations. PC Connection expects sales for the quarter to be approximately $335 million, up from $308.7 million for the third quarter of 2001. The company previously stated that it expected third-quarter net sales of $305 million-$315 million.

In other company news, PC Connection will continue its stock purchase program, which its board of directors authorized in March 2001. Under its current bank credit agreement, entered into on June 30, PC Connection is allowed to purchase up to $5 million worth of its common stock.