UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
___________________________
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): December 18, 2017
PC Connection, Inc. |
(Exact name of registrant as specified in charter) |
Delaware |
0-23827 |
02-0513618 |
(State or other juris- diction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
Rt. 101A, 730 Milford Road Merrimack, NH |
03054 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s
telephone number, including area code: (603) 683-2000
N/A |
(Former name or former address, if changed since last report) |
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ⃞
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⃞
Item 8.01. Other Events
On December 18, 2017, PC Connection, Inc. announced that its Board of Directors declared a special cash dividend of $0.34 per share. The dividend is payable on January 12, 2017, to shareholders of record at the close of business on December 29, 2017. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release issued by PC Connection, Inc. on December 18, 2017.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: |
December 18, 2017 |
PC CONNECTION, INC. |
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By: |
/s/ G. William Schulze |
G. William Schulze |
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Vice President, Interim Treasurer & |
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Chief Financial Officer |
EXHIBIT INDEX
Exhibit No. |
Description |
|
|
Press release issued by PC Connection, Inc. on December 18, 2017. |
Exhibit 99.1
Connection® Announces a Special Dividend to Shareholders
MERRIMACK, N.H.--(BUSINESS WIRE)--December 18, 2017--Connection (PC Connection, Inc.; NASDAQ: CNXN), a leading technology solutions provider of a full range of information technology solutions to business, government, and education markets, today announced that its Board of Directors declared a special cash dividend of $0.34 per share payable on January 12, 2018, to shareholders of record at the close of business on December 29, 2017. The total amount of the special dividend payment will be approximately $9.1 million based on the current number of shares outstanding. While Connection is pleased to be in a position to pay a special dividend again this year, any declaration of future cash dividends will depend upon its financial position, strategic plans, and general business conditions at the time.
"As recently reported, net sales for the nine months ended September 30, 2017 increased by 9.8% year over year and operating cash flow was $28.4 million over the same nine-month period," said Timothy McGrath, President and Chief Executive Officer. "The Company has successfully leveraged its assets and maintained a strong balance sheet. We believe that this special dividend is an appropriate way to reward shareholders for their support," concluded Mr. McGrath.
About Connection
PC Connection, Inc. and its subsidiaries, dba Connection, (www.connection.com; NASDAQ: CNXN) is a Fortune 1000 company headquartered in Merrimack, NH. With offices throughout the United States, Connection delivers custom-configured computer systems overnight from its ISO 9001:2008 certified technical configuration lab at its distribution center in Wilmington, OH. In addition, the Company has over 2,500 technical certifications to ensure it can solve the most complex issues of its customers. Connection also services international customers through its GlobalServe subsidiary, a global IT procurement and service management company. Investors and media can find more information about Connection at http://ir.pcconnection.com.
Connection–Business Solutions (800-800-5555), (the original business of PC Connection) operating through our PC Connection Sales Corp. subsidiary, is a rapid-response provider of IT products and services serving primarily the small- and medium-sized business sector. It offers more than 300,000 brand-name products through its staff of technically trained sales account managers, publications, and its website at www.connection.com.
Connection–Public Sector Solutions (800-800-0019), operating through our GovConnection, Inc. subsidiary, is a rapid-response provider of IT products and services to federal, state, and local government agencies and educational institutions through specialized account managers, publications, and online at www.connection.com/publicsector.
Connection–Enterprise Solutions (561-237-3300), www.connection.com/enterprise, operating through our MoreDirect, Inc. subsidiary, provides corporate technology buyers with best-in-class IT solutions, in-depth IT supply-chain expertise, and access to over 300,000 products and 1,600 vendors through TRAXX™, a proprietary cloud-based eProcurement system. The team’s engineers, software licensing specialists, and project managers help reduce the cost and complexity of buying hardware, software, and services throughout the entire IT lifecycle.
cnxn-g
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements that are based on currently available information, operating plans, and projections about future events and trends. Terms such as "believe," "expect," "intend," "plan," "estimate," "anticipate," "may," “should,” "will," or similar statements or variations of such terms are intended to identify forward-looking statements, although not all forward-looking statements include such terms. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact of changes in market demand and the overall level of economic activity and environment, or in the level of business investment in information technology products, product availability and market acceptance, new products, continuation of key vendor and customer relationships and support programs, the ability to realize market demand for and competitive pricing pressures on the products and services marketed by the Company, fluctuations in operating results and the ability of the Company to manage personnel levels in response to fluctuations in revenue, the ability of the Company to hire and retain qualified sales representatives and other essential personnel, the ability of the Company to pay dividends in the future, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2016. The Company assumes no obligation to update the information in this press release or revise any forward-looking statements, whether as a result of any new information, future events, or otherwise, except as required by law.
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CONTACT:
Connection
Corporate Communications Contact:
Lynn
MacKenzie, 603-683-2278
lynn.mackenzie@connection.com
or
Investor
Relations Contact:
William Schulze, 603-683-2262
Vice
President of Finance
william.schulze@connection.com