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Jun 30, 2020
Climb Global Solutions Q2 2020 Earnings Report
Net sales increased and cash position improved despite industry challenges.
Key Takeaways
Wayside Technology Group reported a 12% increase in net sales to $56.6 million for the second quarter of 2020, driven by the acquisition of Interwork Technologies and growth with other vendors. Despite softness in volumes with key vendors impacting margins and profitability, the company's cash position significantly improved due to an early pay discount program.
Net sales increased 12% to $56.6 million compared to $50.7 million.
Gross profit was $7.1 million compared to $7.8 million.
Net income was $0.6 million or $0.13 per share, compared to $1.9 million or $0.41 per share.
Cash and cash equivalents increased significantly to $45.0 million.
Revenue by Segment
Forward Guidance
The company did not provide forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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