CDW Q1 Profit Climbs On Higher Sales; Declares Dividend - Quick Facts

(RTTNews) - CDW Corp. (CDW), a technology solutions provider, reported Thursday that its first-quarter net income surged 80 percent to $50.9 million from last year's $28.3 million. Earnings per share grew 52.6 percent to $0.30 from $0.19 a year ago.

Adjusted net income, which excluded items, increased 43.7 percent to $0.47 per share from $0.33 per share last year, driven by stronger operating results and lower interest expense.

On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales climbed 10 percent to $2.65 billion from $2.41 billion a year ago, while analysts expected sales of $2.57 billion.

Average daily sales were $42.1 million, compared to $38.3 million last year. There were 63 selling days in both quarters.

Separately, CDW announced that its Board of Directors has declared a quarterly cash dividend of $0.0425 per share to be paid on June 10 to all shareholders of record as of the close of business on May 27.