Mon, Feb 24, 9:28 PM (61 days ago)
**PC Connection, Inc. (CNXN) 2024 10-K Summary** PC Connection, Inc. reported a revenue of $2,802.1 million for the fiscal year ending December 31, 2024, a decline of 1.7% from 2023. Net income increased to $87.1 million, up from $83.3 million, primarily due to higher interest income. The gross margin improved to 18.6%, attributed to better margins in desktop sales. Operating expenses rose to $422.3 million, reflecting investments in sales and technical capabilities. The company operates through three segments: Enterprise Solutions (42.2% of sales), Business Solutions (37.4%), and Public Sector Solutions (20.4%). Key risk factors include intense competition, reliance on major vendors, and potential impacts from macroeconomic conditions. Looking ahead, PC Connection aims to expand its service offerings, particularly in AI and cloud solutions, while navigating inflationary pressures. The company maintains a robust liquidity position with $178.3 million in cash and cash equivalents and no outstanding debt under its $50 million credit facility. Overall, the company remains committed to enhancing operational efficiencies and customer service to drive future growth.