CDW Corp. Q2 Profit Rises - Quick Facts

(RTTNews) - CDW Corporation (CDW) reported that its second-quarter net income increased to $86.6 million or $0.50 per share, from $46.7 million or $0.32 per share, last year. Non-GAAP net income per share was $0.67 for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.58 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $3.11 billion, compared to $2.78 billion, a year ago. Analysts expected revenue of $2.95 billion for the quarter.

"Sales growth of nearly 12 percent was powered by continued exceptional performance in K-12 education and excellent results in both Small Business and Healthcare. Sales to the Federal government returned to growth and both State & Local and Higher Education delivered strong results. Continued customer focus on refreshing client devices and the implementation of digital education testing drove significant increases in PC sales. Despite higher sales from these lower-margin products, we generated strong profitability, with Adjusted EBITDA up 16.3 percent and non-GAAP net income per share up 45.6 percent," said Thomas Richards, chairman and chief executive officer of CDW.

The company also announced that its Board has approved the payment of a quarterly cash dividend to shareholders of $0.0425 per share.