TEMPE, Ariz., Feb. 14, 2013 (GLOBE NEWSWIRE) -- Insight Enterprises, Inc. (Nasdaq:NSIT) (the "Company") today reported results of operations for the quarter and year ended December 31, 2012.
Fourth Quarter Highlights
For the fourth quarter of 2012 compared to the fourth quarter of 2011:
- Net sales decreased 1% to $1.3 billion.
- Gross profit increased 1% to $180.4 million.
- Gross margin increased approximately 20 basis points to 13.4%.
- Earnings from operations decreased 13% to $36.6 million, or 2.7% of net sales.
- The Company's effective tax rate was 40.3% compared to 15.8%.
- Net earnings decreased 40% to $20.8 million.
- Diluted earnings per share decreased 41% to $0.46.
- Excluding severance and restructuring expenses, net earnings and diluted earnings per share on a non-GAAP basis were $22.1 million and $0.49, respectively, in the fourth quarter of 2012.*
- Net sales remained flat at $5.3 billion.
- Gross profit increased 1% to $719.7 million.
- Gross margin increased approximately 20 basis points to 13.6%.
- Earnings from operations increased 1% to $148.2 million, or 2.8% of net sales.
- The Company's effective tax rate was 35.9% compared to 29.3%.
- Net earnings decreased 7% to $92.8 million.
- Diluted earnings per share decreased 5% to $2.07.
- Excluding severance and restructuring expenses and the gain on bargain purchase of Inmac, net earnings and diluted earnings per share on a non-GAAP basis were $95.3 million and $2.13, respectively, in 2012.*
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