PC Connection Reports Loss
PC Connection Inc. reported a net loss of $6.5 million for the second quarter, compared to net income of $5.1 million last year.
The direct marketer posted net sales of $377.3 million for the quarter ended June 30, a16.1% decrease from $449.4 million in the prior year.
Management attributed this to charges of $12.1 million related primarily to the write-off of a software development project
The company’s small to medium-sized business segment posted net sales of $176.7 million for the quarter, a 25.2% decrease from $221.2 million in the prior year which it attributed to general economic conditions.
Net sales for MoreDirect Inc., the company’s large account segment, were $109.7 million for the quarter, a 13.9% decrease from $1243.9 million in the prior year.
PC Connection attributed this “large enterprise customers delaying information technology purchases given current budget constraints.”
