PC Mall, Inc. (NASDAQ:MALL) reported strong fourth quarter financial results on
Tuesday with total revenue of $425 million, up 26% year over year and reported
EPS of $0.32, up 372% year over year. Net sales for the fourth fiscal quarter
soared 26% year over year to $425.4 million from $337.0 million in the same
quarter last year and above the street estimate of $380.28 million. Revenue
upside was most pronounced in SMB, where sales increased 49% year over year to
$162.1 million from $108.9 million due to increased productivity of our account
executives, inclusive of significant growth in our new Chicago office,
continuing economic recovery by small and medium sized businesses, and a $20
million increase in sales to promotional companies, $13 million of which we
expect may not reoccur due to a vendor program change. Net profit during the
quarter arrived at $3.92 million or 32 cents a share, up 372% year over year
from $0.83 million or 1 cent a share in the same period last year, and above the
street estimates of 29 cents a share. Gross profit for the quarter increased 22%
to $49.5 million from $40.5 million in the same quarter last year. Gross profit
margin was 11.6% during the quarter compared to 12.0% last year. Operating
profit increased 891% to $6.8 million compared to consolidated operating profit
of $0.7 million in the same quarter last year. Operating margin for the fourth
quarter was 1.6%, compared to operating margin of 0.2% in the same quarter last
year. The stock gained 73 cents or 9.40% and closed at $8.50 after climbing to
its new annual high of $8.75 on volume of 245,840 shares traded. The stock has
52 week low of $3.20. The market capitalization of the stock stands at $103.13
million with P/E of 28.23 and beta of 2.15. PC Mall, Inc. (PC Mall), along with
its wholly owned subsidiaries, is a direct marketer of technology products,
services and solutions to businesses, government and educational institutions
and individual consumers.
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