CDW Corporation (NASDAQ: CDW) recently reported high/low position of Revenue

      

Posted By - Scott Weaver

On DAY, Shares of CDW Corporation (NASDAQ: CDW) price closed at $113.54 in the trading session. After opening the first trading session at $112.96, it registered a day’s high of $114.34 and touched a day’s low of $112.85. The last trade was registered at price of $112.73 and volume was 401,166 as compared to it’s an average volume of 726,758.

CDW Corporation (NASDAQ: CDW), recently reported first quarter results.

First Quarter of 2019 Highlights:

Total Net sales in the first quarter of 2019 were $3,958M, contrast to $3,606M in the first quarter of 2018, a raise of 9.7 percent.

  • Total Corporate section Net sales in the first quarter of 2019 were $1,736M, 12.6 percent higher than the first quarter of 2018.
  • Total Small Business section Net sales in the first quarter of 2019 were $356M, 10.3 percent higher than the first quarter of 2018.
  • Total Public section Net sales in the first quarter of 2019 were $1,331M, 9.9 percent higher than the first quarter of 2018. Public results were led by sales to Government and Healthcare consumers, which increased 18.6 percent and 8.4 percent, respectively. Sales to Education consumers increased 2.4 percent.
  • Net sales for CDW’s UK and Canadian operations in the first quarter of 2019, combined as “Other” for financial reporting purposes, were $535M, 12.6 percent higher than the first quarter of 2018.

Gross profit for the first quarter of 2019 was $672M, contrast to $604M for the same period in 2018, representing a raise of 11.3 percent.

Total selling and administrative expenses, including advertising expense, were $443M in the first quarter of 2019, contrast to $400M in the first quarter of 2018, representing a raise of 10.9 percent. This was primarily driven by increased sales payroll costs, two months of Scalar expenses and increased stock compensation expense.

Operating income was $229M in the first quarter of 2019, contrast to $204M in the first quarter of 2018, a raise of $25M, or 12.2 percent. Non-GAAP operating income, which excludes, among other things, acquisition-related intangible asset amortization, equity-based compensation and the related payroll taxes, and acquisition and integration expenses, was $287M in the first quarter of 2019, contrast to $259M in the first quarter of 2018, representing a raise of 10.7 percent. For the first quarter of 2019, the Non-GAAP operating income margin was 7.3 percent contrast to 7.2 percent in the first quarter of 2018.

Interest expense was $38M in both the first quarter of 2019 and 2018.