This Day On The Street
Continue to site
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 Third Quarter Financial Results

HERNDON, Va., Feb. 6, 2013 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS), a leading provider of technology solutions, today announced financial results for its third quarter of fiscal year 2013, which ended December 31, 2012. Total revenues for the quarter increased 8.0% to $242.0 million compared to $224.0 million in the quarter ended December 31, 2011. During the quarter, the Company processed a number of advanced integration projects which were not scheduled to be shipped by quarter end, and as a result, deferred revenue increased to $51.3 million from $16.8 million reported on December 31, 2011. In addition, the Company had a larger than normal balance of open orders of $73.3 million at December 31, 2012, as compared to $56.0 million in the prior year.

Net earnings increased 3.3% to $9.0 million in the third quarter of fiscal year 2013, as compared to $8.7 million in the prior year. However, due to the amount of the special dividend declared during the quarter, fully diluted earnings per common share decreased to $1.05 per share compared from $1.07 per share in the prior period.

For the nine months ended December 31, 2012, total revenue increased 23.1% to $746.8 million, and total costs and expenses increased 22.1% to $700.8 million. Net earnings were $27.1 million for the nine months or $3.35 per diluted share, an increase of 45.0%, as compared to $19.5 million, or $2.31 per diluted share, during the nine months ended December 31, 2011.

"We are pleased with our financial results for the quarter," stated Phillip G. Norton, chairman, president and CEO of ePlus. "We are very focused on building ePlus-branded, value-added solutions to enhance and strengthen our customer relationships and gain incremental revenue and margin. These solutions include managed services, staff augmentation, and extending our OneSourceIT software such as the future release of the OneSource Asset Management module. Over the past several quarters, we have added staff and invested in these key ePlus-branded solutions, to both differentiate ePlus from our peers and maximize the value of our customer base."

1 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs