CDW Reports Second Quarter 2013 Results

CDW Corporation (NASDAQ: CDW), a leading multi-brand technology solutions provider to business, government, education and healthcare, today announced second quarter 2013 results.
    Three months     Three months         Six months     Six months    
ended ended ended ended
(Dollars in millions)     June 30, 2013     June 30, 2012     % Chg.     June 30, 2013     June 30, 2012     % Chg.
Net Sales     $2,779.3     $2,584.7     7.5     $5,191.0     $4,903.9     5.9
Gross Profit     451.6     426.9     5.8     853.6     811.5     5.2
Net Income     46.7     36.8     26.7     75.0     47.7     57.1
Non-GAAP Net Income *     79.2     67.2     17.8     135.5     113.1     19.8
Adjusted EBITDA *     212.6     200.6     6.0     391.2     367.0     6.6

*Measures used in this release that are not based on accounting principles generally accepted in the United Statesof America (“non-GAAP”) are each defined and reconciled to the most directly comparable GAAP measure in theattached schedules.


“We are pleased to report another quarter of strong financial performance as we begin our next chapter as a publicly traded company,” said Thomas E. Richards, chairman and chief executive officer of CDW. “This quarter’s performance demonstrates the power of our balanced portfolio of customers, products and technologies when combined with our focus on execution and profitable growth as we once again grew faster than U.S. IT market estimates and delivered solid profitability. We saw excellent momentum in sales to our largest customer channel, medium and large businesses, which increased 13 percent.”

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