Insight Enterprises Q3 Profit Up 16%, Cuts FY Outlook

(RTTNews) - Insight Enterprises Inc (NSIT) Wednesday reported a 16 percent increase in third-quarter profit, as revenues grew.

Tempe, Arizon-based Insight's third-quarter profit rose to $17.4 million or $0.42 per share from $15.0 million or $0.35 per share last year.

Net sales for the quarter grew 8 percent to $1.24 billion from $1.15 billion last year.

Gross margins dropped about 80 basis points to 13.9 percent.

Chief Executive Ken Lamneck said, "Strong gross profit growth and cost management discipline in our EMEA business drove a significant improvement in earnings from operations year over year in that segment, which offset the effects of lower gross margins and increased investments in our sales force in North America."

Moving ahead, the company expects fourth-quarter earnings of $0.54 to $0.60 per share. For the full year 2014, the company now expects earnings to be between $1.99 and $2.05, down from prior outlook of $2.02 to $2.10 per share.