PCM, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2018
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%.