PCM, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net sales of $510,580,000 against $543,275,000 a year ago. Operating profit was $10,554,000 against $1,506,000 a year ago, due to the increase in gross profit and reduction in SG&A expenses. Income before income taxes was $8,354,000 against loss of $293,000 a year ago. Net income was $5,971,000 against loss of $767,000 a year ago. Diluted earnings per common share were $0.47 against basic and diluted loss per share of $0.06 a year ago. EBITDA was $13,949,000 against $5,226,000 a year ago. Adjusted EBITDA was $15,765,000 against $10,276,000 a year ago. Non-GAAP net income was $7,803,000 against $3,504,000 a year ago. Non-GAAP diluted EPS was $0.61 against $0.27 a year ago.

For the nine months, the company reported net sales of $1,599,842,000 against $1,622,117,000 a year ago. Operating profit was $29,991,000 against $11,621,000 a year ago. Income before income taxes was $23,318,000 against $6,456,000 a year ago. Net income was $16,665,000 against $5,771,000 a year ago. Diluted earnings per common share were $1.35 against $0.43 a year ago. EBITDA was $40,603,000 against $22,527,000 a year ago. Adjusted EBITDA was $45,741,000 against $32,156,000 a year ago. Non-GAAP net income was $22,003,000 against $11,789,000 a year ago. Non-GAAP diluted EPS was $1.78 against $0.88 a year ago. Net cash provided by operating activities was $87,911,000 against net cash used in operating activities of $29,441,000 a year ago. Purchases of property and equipment were $3,816,000 against $14,122,000 a year ago.

For the fourth quarter, the company expects net revenue roughly in line with third quarter.

For the full year, the company expects non-GAAP earnings per share to in range of $2.22 to $2.32 and increases gross margin guidance to a range of 16.15% to 16.35%.