CDW Earnings Up In Q1

(RTTNews) - CDW Corp. (CDW), a provider of information technology solutions, on Wednesday announced that net income increased in the first quarter compared with the previous year.

For the first quarter, net income increased 4.1 percent to $224.9 million from $216.1 million in the previous year's quarter. While earnings per share were $1.69 compared with $1.59 last year.

On the adjusted basis, net income climbed 9.9 percent to $286.5 million from $260.8 million in the prior year. While adjusted earnings per share were $2.15 versus $1.92 last year.

Ten analysts, on average, had expected the company to report $1.96 per share. Analysts' estimates typically exclude special items.

Net sales surged 6.7 percent to $5.2 billion from $4.87 billion in the previous year. Daily sales were increased 8.4 percent to $82.5 million from $76.1 million in the previous year.

The company's Board of Directors has approved a quarterly cash dividend of $0.625 per common share, payable on June 10, to shareholders on record as of May 26.

In the pre-market trading, CDW is 0.04% higher at $163.99 on the Nasdaq.