$CNXN
PC CONNECTION INC

2012 Q3 Form 10-Q Financial Statement

#000119312512457779 Filed on November 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $561.3M $575.6M
YoY Change -2.49% 8.04%
Cost Of Revenue $489.1M $505.2M
YoY Change -3.19% 7.29%
Gross Profit $72.21M $70.44M
YoY Change 2.51% 13.61%
Gross Profit Margin 12.86% 12.24%
Selling, General & Admin $55.91M $54.55M
YoY Change 2.48% 14.61%
% of Gross Profit 77.43% 77.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.700M $1.500M
YoY Change 13.33% 15.38%
% of Gross Profit 2.35% 2.13%
Operating Expenses $55.91M $54.55M
YoY Change 2.48% 14.61%
Operating Profit $16.30M $15.88M
YoY Change 2.63% 10.29%
Interest Expense $69.00K $93.00K
YoY Change -25.81% -193.0%
% of Operating Profit 0.42% 0.59%
Other Income/Expense, Net $6.000K $32.00K
YoY Change -81.25%
Pretax Income $16.24M $15.82M
YoY Change 2.63% 10.64%
Income Tax $6.336M $6.435M
% Of Pretax Income 39.02% 40.67%
Net Earnings $9.901M $9.386M
YoY Change 5.49% 9.14%
Net Earnings / Revenue 1.76% 1.63%
Basic Earnings Per Share $0.37 $0.35
Diluted Earnings Per Share $0.37 $0.35
COMMON SHARES
Basic Shares Outstanding 26.47M shares 26.62M shares
Diluted Shares Outstanding 26.66M shares 26.69M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.50M $39.80M
YoY Change 34.42% -1.73%
Cash & Equivalents $53.53M $39.76M
Short-Term Investments
Other Short-Term Assets $7.300M $8.400M
YoY Change -13.1% 5.0%
Inventory $65.48M $73.00M
Prepaid Expenses
Receivables $270.3M
Other Receivables
Total Short-Term Assets $398.5M $391.3M
YoY Change 1.84% 0.95%
LONG-TERM ASSETS
Property, Plant & Equipment $25.40M $21.90M
YoY Change 15.98% 58.7%
Goodwill $51.28M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $734.0K $600.0K
YoY Change 22.33% 50.0%
Total Long-Term Assets $81.81M $79.20M
YoY Change 3.3% 23.56%
TOTAL ASSETS
Total Short-Term Assets $398.5M $391.3M
Total Long-Term Assets $81.81M $79.20M
Total Assets $480.3M $470.5M
YoY Change 2.08% 4.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.5M $138.8M
YoY Change -7.45% -9.1%
Accrued Expenses $39.60M $40.40M
YoY Change -1.98% 7.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $900.0K
YoY Change 22.22% 12.5%
Total Short-Term Liabilities $169.1M $180.2M
YoY Change -6.17% -5.7%
LONG-TERM LIABILITIES
Long-Term Debt $200.0K $1.200M
YoY Change -83.33% -45.45%
Other Long-Term Liabilities $3.042M $4.500M
YoY Change -32.4% 32.35%
Total Long-Term Liabilities $3.042M $5.700M
YoY Change -46.63% 1.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.1M $180.2M
Total Long-Term Liabilities $3.042M $5.700M
Total Liabilities $181.8M $194.4M
YoY Change -6.47% -3.86%
SHAREHOLDERS EQUITY
Retained Earnings $206.5M
YoY Change
Common Stock $101.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.634M
YoY Change
Treasury Stock Shares
Shareholders Equity $298.5M $276.1M
YoY Change
Total Liabilities & Shareholders Equity $480.3M $470.5M
YoY Change 2.08% 4.16%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $9.901M $9.386M
YoY Change 5.49% 9.14%
Depreciation, Depletion And Amortization $1.700M $1.500M
YoY Change 13.33% 15.38%
Cash From Operating Activities -$8.300M -$10.50M
YoY Change -20.95% 64.06%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$2.300M
YoY Change -21.74% 130.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$1.800M -$2.400M
YoY Change -25.0% 166.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K -2.700M
YoY Change -107.41% 42.11%
NET CHANGE
Cash From Operating Activities -8.300M -10.50M
Cash From Investing Activities -1.800M -2.400M
Cash From Financing Activities 200.0K -2.700M
Net Change In Cash -9.900M -15.60M
YoY Change -36.54% 69.57%
FREE CASH FLOW
Cash From Operating Activities -$8.300M -$10.50M
Capital Expenditures -$1.800M -$2.300M
Free Cash Flow -$6.500M -$8.200M
YoY Change -20.73% 51.85%

Facts In Submission

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dei Trading Symbol
TradingSymbol
PCCC
dei Entity Registrant Name
EntityRegistrantName
PC CONNECTION INC
dei Amendment Flag
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dei Entity Filer Category
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Type
DocumentType
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dei Document Period End Date
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dei Entity Central Index Key
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
15821000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2011Q3 us-gaap Cost Of Revenue
CostOfRevenue
505210000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26615000 shares
CY2011Q3 us-gaap Gross Profit
GrossProfit
70436000
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
483 shares
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
9386000
CY2011Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
54554000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6435000
CY2011Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
184000
CY2011Q3 us-gaap Interest Expense
InterestExpense
93000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
16300000
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
190000 shares
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1670000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26660000 shares
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
561294000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16237000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2012Q3 us-gaap Cost Of Revenue
CostOfRevenue
489088000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26470000 shares
CY2012Q3 us-gaap Gross Profit
GrossProfit
72206000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
210 shares
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
9901000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
55906000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6336000
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
294000
CY2012Q3 us-gaap Interest Expense
InterestExpense
69000

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