PC Connection, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported, net sales of $762,267,000, income from operations of $21,896,000, net income of $20,723,000, compared to net sales of $735,548,000, income from operations of $21,901,000, net income of $12,997,000, for the same period a year ago. Basic and diluted earnings per common share 0.77 against $0.49 a year ago. EBITDA was $25,206,000 against $24,889,000 a year ago. Adjusted EBITDA was $28,082,000 against $26,474,000 a year ago. Adjusted EPS excluding tax benefit and special charges was $0.54, compared to $0.52 for the prior year quarter. Return on equity was 12.0% against 11.7% a year ago.


For the year, net sales were $2,911,883,000 against $2,692,592,000 a year ago. Income from operations was $77,527,000 against $80,520,000 a year ago. Net income was $54,857,000 against $48,111,000 a year ago. Diluted earnings per common share were $2.04 against $1.80 a year ago. Net cash used for investing activities was $11,803,000 against $54,875,000 a year ago. Purchases of equipment were $11,803,000 against $11,885,000 a year ago. EBITDA was $89,590,000 against $91,013,000 a year ago. Adjusted EBITDA was $93,967,000 against $95,468,000 a year ago. Adjusted EPS excluding tax benefit and special charges was $1.84, compared to $1.88 for the prior year. At the end of the period total book value per share was $17.96 against $16.29 a year ago. Tangible book value per share was $14.81 against $13.05 a year ago.

The company expects its corporate income tax rate for 2018 to range from 27% to 29%.