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EPlus Issues Revised EPS For Its Third Quarter Financial Results

HERNDON, Va., Feb. 7, 2013 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS), a leading provider of technology solutions, today announced revised earnings per share calculations for the three and nine month periods ended December 31, 2012. The Company has revised its quarterly basic and diluted earnings per share to $1.11 from $1.05. For the nine months ended December 31, 2012, ePlus has revised its basic and diluted earnings per share for the nine month period to $3.42 and $3.38, respectively, from $3.35.

Based on additional consultations with the Company's independent registered public accounting firm, the Company determined that the initially reported earnings per share calculation had incorrectly used the number of actual shares, rather than the weighted-average number of shares, in respect of the cash dividend declared during the quarter. In particular, the Company declared a dividend of $2.50 per share based on shares outstanding on December 17, 2012 of 8,151,201. In the prior calculation of earnings per share, the Company accounted for the dividend, or distributed earnings, using actual shares outstanding rather than the weighted-average shares for the three- and nine-month periods. The revised calculation is based on weighted-average shares for the three and nine months ended December 31, 2012 for both distributed and undistributed earnings.

Except for the changes to earnings per share and weighted average shares outstanding-diluted referenced herein, there were no other changes reported.

Conference Call Information

The Company will host a conference call on Thursday, February 7, 2013, at 2:00 p.m. Eastern Time to review and discuss the Company's results for the third quarter of fiscal year 2013. The call can be accessed live over the phone by dialing (877) 870-9226, or for international callers, (973) 890-8320. Passcode 92711842. A live webcast will be available via the Company's investor relations Web site at http://www.eplus.com/investors .

A replay will be available shortly after the call and can be accessed by dialing (855) 859-2056, or for international callers, (404) 537-3406. Passcode 92711842. The replay will be available until February 11, 2013, and the webcast will also remain available for replay via the Company's investor relations page of its Web site.

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