PC Connection, Inc. announced consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company's net sales were $706,570,000 compared to $749,792,000 for the same period of last year. Income from operations was $24,947,000 compared to $22,440,000 for the same period of last year. Net income was $18,226,000 compared to $13,585,000 for the same period of last year. Basic and diluted earnings per share were $0.68 compared to $0.51 for the same period of last year. Net cash provided for operating activities was $4,274,000 compared to net cash used in operating activities of $35,187,000 for the same period of last year. Purchases of equipment were $4,920,000 compared to $3,044,000 for the same period of last year. EBITDA was $28,585,000 compared to $25,334,000 for the same period of last year. Adjusted EBITDA was $28,843,000 compared to $26,476,000 for the same period of last year. Adjusted net income was $14,154,000 or $0.53 per diluted share against $12,957,000 or $0.49 per diluted share a year ago. Return on equity was 11.0% compared to 12.3% for the same period of last year. Return on equity was 13.1% compared to 11.0% a year ago. Accrued capital expenditures was $1,281,000 compared to $662,000 a year ago.

For the six months, the company's net sales were $1,331,465,000 compared to $1,420,386,000 for the same period of last year. Income from operations was $40,419,000 compared to $33,892,000 for the same period of last year. Net income was $29,526,000 compared to $21,017,000 for the same period of last year. Diluted earnings per share were $1.10 compared to basic and diluted earnings per share of $0.78 for the same period of last year. EBITDA was $97,401,000 compared to $89,723,000 for the same period of last year. Adjusted EBITDA was $100,918,000 compared to $94,017,000 for the same period of last year. Net cash provided for operating activities was $41,518,000 compared to net cash used in operating activities of $9,758,000 for the same period of last year. Purchases of equipment were $9,927,000 compared to $4,531,000 for the same period of last year. Total book value per share as on June 30, 2018 was $19.09 against $17.07 as on June 30, 2017. Tangible book value per share as on June 30, 2018 was $15.94 against $17.07 as on June 30, 2017. Accrued capital expenditures were $1,281,000 compared to $662,000 a year ago.

The company expects third quarter gross margins to be similar to 2018 year-to-date levels.

The company expects tax rate for the year 2018 to be in the range of 27% to 29%.