Connection (CNXN) Reports In-Line Q4 EPS

Connection (NASDAQ: CNXN) reported Q4 EPS of $0.62, in-line with the analyst estimate of $0.62. Revenue for the quarter came in at $675.7 million versus the consensus estimate of $651.27 million.

Our Q4 performance reflected the continued recovery trend in business conditions that we began to see very late in Q2,” said Tim McGrath, President and CEO of Connection. “Our year-over-year revenue growth in our Business and Public Sector Solutions segments was offset by a decline in Enterprise Solutions, which had a strong Q4 2019. We believe current momentum will continue in the months ahead. There was solid demand in mobility, security, software, and managed services. In Q4, we experienced greater than 20% growth in both SLED and our manufacturing vertical market.”

McGrath continued, “The pandemic had a significant impact on our business in 2020. Our people rose to the occasion and worked tirelessly through the year under difficult conditions to help our customers succeed. We are optimistic about 2021 and look forward to continuing to deliver the value-added services and products that enable our customers to transform their businesses.”

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

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