$PLUS
EPLUS INC

2024 Q3 Form 10-Q Financial Statement

#000114036124035956 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $515.2M $544.5M
YoY Change -12.33% -5.16%
Cost Of Revenue $367.2M $410.1M
YoY Change -17.16% -5.06%
Gross Profit $148.0M $134.5M
YoY Change 2.51% -5.48%
Gross Profit Margin 28.73% 24.7%
Selling, General & Admin $98.97M $93.61M
YoY Change 6.82% 3.67%
% of Gross Profit 66.88% 69.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.658M $5.922M
YoY Change 2.43% 2.9%
% of Gross Profit 4.5% 4.4%
Operating Expenses $105.3M $99.01M
YoY Change 5.8% 3.2%
Operating Profit $42.72M $35.47M
YoY Change -4.78% -23.45%
Interest Expense -$537.0K -$585.0K
YoY Change -144.02% -168.74%
% of Operating Profit -1.26% -1.65%
Other Income/Expense, Net $579.0K $2.073M
YoY Change 394.87% 991.05%
Pretax Income $43.30M $37.54M
YoY Change -3.74% -19.3%
Income Tax $12.00M $10.20M
% Of Pretax Income 27.72% 27.18%
Net Earnings $31.31M $27.34M
YoY Change -4.15% -19.23%
Net Earnings / Revenue 6.08% 5.02%
Basic Earnings Per Share $1.18 $1.03
Diluted Earnings Per Share $1.17 $1.02
COMMON SHARES
Basic Shares Outstanding 26.87M 26.95M
Diluted Shares Outstanding 26.68M 26.80M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.5M $349.9M
YoY Change 127.31% 244.49%
Cash & Equivalents $187.5M $349.9M
Short-Term Investments
Other Short-Term Assets $58.66M $23.95M
YoY Change -3.48% -49.13%
Inventory $93.86M $89.13M
Prepaid Expenses
Receivables $588.0M $577.0M
Other Receivables $212.5M $164.1M
Total Short-Term Assets $1.202B $1.264B
YoY Change -5.27% -0.94%
LONG-TERM ASSETS
Property, Plant & Equipment $3.703M $5.051M
YoY Change
Goodwill $203.2M $161.5M
YoY Change 28.47% 2.03%
Intangibles $94.17M $40.29M
YoY Change 100.6% -21.39%
Long-Term Investments
YoY Change
Other Assets $104.1M $94.42M
YoY Change 44.25% 33.37%
Total Long-Term Assets $497.7M $386.9M
YoY Change 42.37% -4.4%
TOTAL ASSETS
Total Short-Term Assets $1.202B $1.264B
Total Long-Term Assets $497.7M $386.9M
Total Assets $1.700B $1.651B
YoY Change 5.02% -1.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $281.9M $270.6M
YoY Change -4.71% -22.99%
Accrued Expenses $45.16M $40.49M
YoY Change 17.0% -1.59%
Deferred Revenue $143.3M $138.6M
YoY Change 20.54% 16.51%
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $28.97M $29.90M
YoY Change -30.69% 68.52%
Total Short-Term Liabilities $649.9M $628.2M
YoY Change -7.2% -21.55%
LONG-TERM LIABILITIES
Long-Term Debt $9.723M $10.85M
YoY Change 0.24% 116.86%
Other Long-Term Liabilities $93.41M $89.96M
YoY Change 49.98% 47.45%
Total Long-Term Liabilities $93.41M $89.96M
YoY Change 49.98% 47.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $649.9M $628.2M
Total Long-Term Liabilities $93.41M $89.96M
Total Liabilities $753.1M $729.0M
YoY Change -2.59% -15.96%
SHAREHOLDERS EQUITY
Retained Earnings $801.6M $770.3M
YoY Change 15.56% 16.53%
Common Stock $276.0K $276.0K
YoY Change 0.73% 0.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $47.46M $35.75M
YoY Change 112.12% 66.64%
Treasury Stock Shares
Shareholders Equity $947.0M $921.9M
YoY Change
Total Liabilities & Shareholders Equity $1.700B $1.651B
YoY Change 5.02% -1.77%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $31.31M $27.34M
YoY Change -4.15% -19.23%
Depreciation, Depletion And Amortization $6.658M $5.922M
YoY Change 2.43% 2.9%
Cash From Operating Activities -$21.63M $97.13M
YoY Change -169.32% -564.72%
INVESTING ACTIVITIES
Capital Expenditures $1.291M $1.967M
YoY Change -32.05% -46.81%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$124.5M $61.00K
YoY Change -1212.04% -100.1%
Cash From Investing Activities -$125.8M -$1.906M
YoY Change -1453.12% -96.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.88M 1.612M
YoY Change -73.53% -98.05%
NET CHANGE
Cash From Operating Activities -21.63M 97.13M
Cash From Investing Activities -125.8M -1.906M
Cash From Financing Activities -15.88M 1.612M
Net Change In Cash -163.4M 96.89M
YoY Change 737.7% -6478.41%
FREE CASH FLOW
Cash From Operating Activities -$21.63M $97.13M
Capital Expenditures $1.291M $1.967M
Free Cash Flow -$22.92M $95.16M
YoY Change -178.22% -486.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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26648000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.03
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.27
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2024Q2 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1250000
CY2023Q1 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
109869
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
8100000
CY2024Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
52450
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3800000
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
93541
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4400000
CY2023Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
53945
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3000000
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2855000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2205000
CY2024Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
777000
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
600000
CY2023Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1400000
CY2024Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1400000
CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10200000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12700000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
283187000
CY2024Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
179709000
CY2024Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2024Q2 us-gaap Revenues
Revenues
544538000
CY2023Q2 us-gaap Revenues
Revenues
574175000
CY2024Q2 us-gaap Gross Profit
GrossProfit
134481000
CY2023Q2 us-gaap Gross Profit
GrossProfit
142273000
CY2024Q2 us-gaap Operating Expenses
OperatingExpenses
99012000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
95941000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
35469000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
46332000
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2073000
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
190000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
37542000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46522000
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4819000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4792000
CY2024Q2 us-gaap Interest Expense Operating
InterestExpenseOperating
585000
CY2023Q2 us-gaap Interest Expense Operating
InterestExpenseOperating
851000
CY2024Q2 plus Purchases Of Property Equipment And Operating Lease Equipment And Assets To Be Leased Or Financed
PurchasesOfPropertyEquipmentAndOperatingLeaseEquipmentAndAssetsToBeLeasedOrFinanced
1967000
CY2023Q2 plus Purchases Of Property Equipment And Operating Lease Equipment And Assets To Be Leased Or Financed
PurchasesOfPropertyEquipmentAndOperatingLeaseEquipmentAndAssetsToBeLeasedOrFinanced
3698000
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
533096000
CY2024Q2 plus Financing And Other
FinancingAndOther
11442000
CY2024Q2 us-gaap Revenues
Revenues
544538000
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
533096000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
559352000
CY2023Q2 plus Financing And Other
FinancingAndOther
14823000
CY2023Q2 us-gaap Revenues
Revenues
574175000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
559352000
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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ef20030136_10q.htm Edgar Link pending
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