ePlus (PLUS) Tops Q1 EPS by 17c
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ePlus Reports First Quarter Financial Results
August 5, 2020 4:05 PM EDT--Favorable Business Mix Drove Strong Profitability Growth--
Quarterly Highlights:
Net sales decreased 6.9% to $355.0 million; technology segment net sales decreased 7.4% to $341.2 million; service revenues increased 4.4% to $47.8 million; financing segment net sales increased 7.6% to $13.8 million. Adjusted gross billings decreased 0.4% to $546.4 million. Consolidated gross profit increased 6.4% to $98.6 million. Consolidated gross margin was 27.8%, an increase of 350 basis points. Net earnings increased 7.2% to $17.4 million. Adjusted EBITDA increased 7.5% to $30.7 million. Diluted earnings per share increased 8.3% to $1.30. Non-GAAP diluted earnings per share increased 4.9% to $1.51.Â
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