Stock Monitor: MIND C.T.I. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 07, 2018 / Active-Investors.com has just released a free earnings report on CDW Corp. (NASDAQ: CDW). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CDW. CDW reported its fourth quarter and fiscal 2017 operating and financial results on February 07, 2018. The information technology Company topped earnings estimates while revenue met market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for MIND C.T.I. Ltd (NASDAQ: MNDO), which also belongs to the Technology sector as the Company CDW Corp. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=MNDO
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CDW most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=CDW
Earnings Highlights and Summary
CDW's total net sales were $3.84 billion in Q4 2017 compared to $3.49 billion in Q4 2016, reflecting an increase of 9.9%. On an average daily sales basis, the Company's net sales grew 8.2% on a y-o-y basis and 7.5% and on a constant currency basis. Currency impact to net sales growth was driven by favorable translation of the Canadian to US dollar and favorable translation of the British pound to US dollar. CDW's reported revenue numbers were in-line with analyst' estimates.
During Q4 2017, CDW's gross profit was $614 million compared to $578 million for Q4 2016 representing an increase of 6.3%. The Company's gross profit margin was 16.0% for the reported quarter versus 16.5% in the prior year's corresponding quarter. The decline in gross margin was primarily driven by increased hardware sales and an ongoing competitive marketplace.
For Q4 2017, CDW's total selling and administrative expenses and advertising expense were $393 million, up 3.2% compared to $381 million in Q4 2016, primarily driven by sales compensation, partially offset by lower senior management incentive compensation.
During Q4 2017, CDW's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $297 million compared to $274 million in Q4 2016, representing an increase of 8.7%. For the reported quarter, the Company's adjusted EBITDA margin was 7.7% compared to 7.8% in the prior year's same quarter.
CDW's net income was $195 million, or $1.26 per diluted share, in Q4 2017 compared to $103 million, or $0.63 per diluted share, in Q4 2016. The Company's non-GAAP net income, which excluded among other things, acquisition-related intangible asset amortization, integration expenses, equity-based compensation and the associated tax benefits, and certain non-recurring items, was $0.99 per diluted share in the reported quarter versus $0.86 per diluted share for the prior year's comparable quarter, representing an increase of 14.7%. CDW's earnings beat Wall Street's estimates of $0.98 per share.
For full year (FY) 2017, CDW's net sales advanced 8.7% to $15.19 billion compared to $13.98 billion in FY16. On an average daily sales basis, the Company's net sales grew 8.7% on a y-o-y basis and 8.9% on a constant currency basis.
For FY17, CDW's net income totaled $523 million, or $3.31 per diluted share, compared to $424 million, or $2.56 per diluted share, in FY16. The Company's non-GAAP net income was $606 million, or $3.83 per diluted share, in FY17 compared to $569 million, or $3.43 per diluted share, in FY16.
CDW's Segment Results
During Q4 2017, the total Corporate segment's net sales were $1.64 billion, 6.4% higher on an average daily sales basis from Q4 2016. The Company's total Small Business segment's net sales grew 6.1% on an average daily sales basis in the reported quarter to $315 million.
For Q4 2017, the total Public segment's net sales were $1.45 billion, 7.4% higher on an average daily sales basis than Q4 2016. Public results were led by sales to both Government and Education customers, which increased 17.1% and 7.8%, respectively. Net sales for CDW's Canadian and UK operations combined as "Other" were $428 million, 20.3% higher on an average daily sales basis in the reported quarter.
Cash Matters
As of December 31, 2017, CDW's cash and cash equivalents were $144.2 million. The Company's current maturities of long-term debt were $25.5 million at the end of Q4 2017. CDW's net leverage ratio was 2.6% as on December 31, 2017, compared to 2.7% on December 31, 2016. For FY17, the Company's cash from operating activities totaled $777.7 million compared to $604.0 million for the year ago same period.
Stock Performance Snapshot
March 06, 2018 - At Tuesday's closing bell, CDW's stock was slightly up 0.23%, ending the trading session at $74.11.
Volume traded for the day: 887.17 thousand shares, which was above the 3-month average volume of 863.10 thousand shares.
Stock performance in the last three-month - up 7.19%; previous six-month period - up 19.40%; past twelve-month period - up 24.60%; and year-to-date - up 6.65%
After yesterday's close, CDW's market cap was at $11.32 billion.
Price to Earnings (P/E) ratio was at 26.13.
The stock has a dividend yield of 1.13%.
The stock is part of the Technology sector, categorized under the Information Technology Services industry. This sector was up 0.5% at the end of the session.
--
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
