April Sales Dip at CDW Computer
Consumer spending on personal computers is strong, but in keeping with broader economic trends, a major retailer of computers said that corporate information technology spending is still weak.
On Monday,
CDW Computer Centers
(CDWC)
, which hawks more than 80,000 different computer products via its catalogue and Web site, announced that April sales came in at $348.1 million, lower than the $351.4 million in last year's quarter. Shares fell 1.9% to $42.91.
"We continue to experience strong double-digit growth in the public sector. However, the market remains soft in the corporate sector," said CEO John Edwardson, in a press release.
The company, which releases earnings in a month on June 11, announced first-quarter earnings of $42.4 million, or 49 cents a share, on $1.02 billion in revenue back on April 15. The results narrowly beat analyst expectations for both revenue and earnings and showed marginal growth from year-ago levels.