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Mar 31, 2021
Climb Global Solutions Q1 2021 Earnings Report
Wayside Technology Group's first quarter results for 2021 were reported, showcasing slight revenue growth and a record gross profit.
Key Takeaways
Wayside Technology Group reported a slight increase in net sales to $62.8 million, a 33% increase in gross profit to $10.8 million, and an 82% increase in net income to $1.5 million, or $0.35 per share, for the first quarter of 2021. Adjusted EBITDA was $2.6 million.
Net sales increased slightly to $62.8 million.
Gross profit increased 33% to a record $10.8 million.
Net income increased 82% to $1.5 million, or $0.35 per share.
Adjusted EBITDA was $2.6 million.
Climb Global Solutions
Climb Global Solutions
Forward Guidance
Wayside plans to leverage its foundation to support vendors and seek acquisitions in the IT distribution and solutions marketplace.
Positive Outlook
- Continue leveraging strong foundation to support emerging vendors.
- Seek additional accretive acquisition opportunities.
- Expand support for new and incoming cloud vendors.
- Offer more comprehensive end-to-end services for consumers.
- Cloud is expected to become an important and strategic element of portfolio and long-term growth.
Challenges Ahead
- Potential adverse effect of COVID-19 on the company.
- Scope, severity and duration of the pandemic.
- Actions taken to contain the pandemic or mitigate its impact.
- Direct and indirect economic effects of the pandemic and containment measures.
- Impact on reseller partners and the end customer markets they serve.