Connection (CNXN) Tops Q2 EPS by 5c, Revenues Beat

Connection (NASDAQ: CNXN) reported Q2 EPS of $0.68, $0.05 better than the analyst estimate of $0.63. Revenue for the quarter came in at $706.57 million versus the consensus estimate of $696.68 million.

• Net Income Increases by 34% from Prior Q2
• Gross profit: $107.5 million, up 7.8% y/y
• Operating income: $24.9 million, up 11.2% y/y
• Net income: $18.2 million, up 34.2% y/y
• Diluted EPS: $0.68, compared to $0.51 for Q2 2017

Earnings per share (“EPS”) on both a basic and diluted basis as presented for the quarter ended June 30, 2018 was $0.68. EPS prior to the impact of the new revenue recognition standard was $0.71 per share, compared to the prior year’s $0.51 on both a basic and diluted basis.

Earnings before interest, taxes, depreciation and amortization, adjusted for stock-based compensation expense and rebranding, acquisition and restructuring costs (“Adjusted EBITDA”), a non-GAAP measure, totaled $100.9 million for the twelve months ended June 30, 2018, Adjusted EBITDA prior to the impact of the new revenue recognition standard was $101.5 million, compared to $94.0 million for the twelve months ended June 30, 2017.

For earnings history and earnings-related data on Connection (CNXN) click here.

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