Connection (CNXN) announced its fourth quarter and full year 2024 results. For Q4 2024, net sales increased by 1.8% to $708.9 million, but net income decreased by 12.9% to $20.7 million, and diluted EPS fell to $0.78. Gross profit remained flat year-over-year. The company also declared a quarterly dividend of $0.15 per share.
Net sales for Q4 2024 increased by 1.8% year-over-year to $708.9 million.
Gross profit for Q4 2024 was flat year-over-year at $129.8 million, with gross margin decreasing by 30 basis points to 18.3%.
Net income for Q4 2024 decreased by 12.9% to $20.7 million, resulting in diluted EPS of $0.78.
The Board of Directors declared a quarterly dividend of $0.15 per share.
The company believes that the market for IT products and solutions will gradually improve as the year progresses.
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