PCM, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of $586,627,000 against $482,185,000 a year ago. Operating profit was $9,207,000 compared to operating loss of $22,081,000 a year ago. Income from continuing operations before income taxes was $7,657,000 compared to loss from continuing operations before income taxes was $23,280,000 a year ago. Income from continuing operations was $4,710,000 or $0.37 per diluted share compared to loss from continuing operations of $14,116,000 or $1.21 per diluted share a year ago. Net income was $4,710,000 or $0.37 per diluted share compared to net loss of $14,167,000 or $1.21 per diluted share a year ago. EBITDA was $13,069,000 compared to negative EBITDA of $18,950,000 a year ago. Adjusted EBITDA was $14,553,000 compared with $5,243,000 a year ago. Non-GAAP consolidated income from continuing operations was $6,506,000 compared with $806,000 a year ago. Non-GAAP diluted EPS was $0.51 compared with $0.07 a year ago.

For the year, the company reported net sales of $2,250,587,000 against $1,661,948,000 a year ago. Operating profit was $34,791,000 compared to operating loss of $25,482,000 a year ago. Income from continuing operations before income taxes was $28,708,000 compared to loss from continuing operations before income taxes was $29,342,000 a year ago. Income from continuing operations was $17,593,000 or $1.40 per diluted share compared to loss from continuing operations of $17,948,000 or $1.49 per diluted share a year ago. Net income was $17,593,000 or $1.40 per diluted share compared to net loss of $18,258,000 or $1.52 per diluted share a year ago. EBITDA was $50,575,000 compared to negative EBITDA of $13,265,000 a year ago. Adjusted EBITDA was $54,779,000 compared with $20,405,000 a year ago. Non-GAAP consolidated income from continuing operations was $23,739,000 compared with $3,457,000 a year ago. Non-GAAP diluted EPS was $1.89 compared with $0.27 a year ago. Net cash provided by operating activities was $95,618,000 compared to net cash used in operating activities of $52,436,000 a year ago. Purchases of property and equipment were $8,705,000 compared with $21,380,000 a year ago. This increase in Net Sales were primarily due to the addition of sales from its fourth quarter 2015 acquisitions and strong organic growth predominantly in its federal business within the Public Sector segment.

Looking ahead, for the first quarter of 2017, the company expects adjusted EPS in the range of $0.20 to $0.24 on net sales of $515 million to $530 million.

For the year 2017, the company currently aim to deliver net sales of $2.34 billion to $2.38 billion and adjusted EPS of $2.00 to $2.15, with adjusted EPS ramping sequentially for each of the quarters of this year, as these incremental investments begin to bear fruit.