This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

EPlus Reports Fiscal 2011 Second Quarter Results

HERNDON, Va., Nov. 4, 2010 (GLOBE NEWSWIRE) -- e Plus inc. (Nasdaq:PLUS), a leading provider of technology solutions, today announced financial results for its fiscal second quarter ended September 30, 2010.

Revenues totaled $234.5 million, an increase of $61.8 million or 35.8%, compared to $172.7 million in the fiscal second quarter of 2010. Net earnings increased 58.3% to $7.9 million or $0.94 per diluted share, as compared to $5.0 million, or $0.58 per diluted share, in the fiscal second quarter of 2010. Revenues for the quarter ended September 30, 2010 include patent license and settlement income of $125 thousand, compared to $3.4 million for the quarter ended September 30, 2009.

"Spending for IT products and services in the U.S. rebounded due to improved economic conditions, and we achieved another quarter of significant revenue and earnings improvement on both a year-over-year and sequential basis," said Phillip G. Norton, Chairman, President and Chief Executive Officer. "Our business model has proven its scalability and efficiency, as gross profit increased at a much greater rate than overhead, further driving net earnings. I believe this demonstrates that e Plus is well positioned for the future, having a solid balance sheet, a skilled workforce, a solution set that is in high demand by our customers, and an efficient operating platform."

Quarterly Results

Sales of product and services totaled $221.9 million, an increase of $64.6 million or 41.1%, as compared to $157.3 million in the fiscal second quarter of 2010. The gross margin on products and services was 14.5%, down slightly compared to 14.6% in the same quarter last year.

Revenues generated from the combination of sales of leased equipment, lease revenues, and fee and other income totaled $12.4 million, an increase of $0.4 million or 3.3%, compared to $12.0 million in the fiscal second quarter of 2010. Lease revenues totaled $8.6 million, a decrease of $0.3 million as compared to the same quarter last year, due to lower sales of leased assets and transfers of financial assets, partially offset by increased earnings from direct financing leases.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs