MERRIMACK, N.H.--(BUSINESS WIRE)--
PC Connection, Inc. (NASDAQ: PCCC), a provider of a full range of
information technology (IT) solutions to business, government, and
education markets, today announced that its Board of Directors declared
a special cash dividend of $0.40 per share payable on December 26,
2013, to shareholders of record at the close of business on December 12,
2013. The total amount of the special dividend payment will be
approximately $10.5 million based on the current number of shares
outstanding. While PC 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, we earned record quarterly revenue and operating
income in the third quarter and generated significant positive cash flow
in the nine months ended September 30, 2013," 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."
PC Connection intends to continue to invest in market opportunities,
including expansion of its CloudConnection™ and other professional
services offerings.
About PC Connection, Inc.
PC Connection, Inc., a Fortune 1000 company, has three sales companies:
PC Connection Sales Corporation, MoreDirect, Inc., and GovConnection,
Inc., headquartered in Merrimack, NH; Boca Raton, FL; and Rockville, MD;
respectively. All three companies can deliver custom-configured computer
systems overnight from our ISO 9001:2008 certified technical
configuration lab at our distribution center in Wilmington, OH.
Investors and media can find more information about PC Connection, Inc.
at http://ir.pcconnection.com.
PC Connection Sales Corporation (800-800-5555), the original business of
PC Connection, Inc. serving primarily the small- and medium-sized
business sector, is a rapid-response provider of IT products and
services. It offers more than 300,000 brand-name products through its
staff of technically trained sales account managers and telesales
specialists, catalogs, publications, and its website at www.pcconnection.com.
This company also serves consumer and small office users and is, under
its MacConnection brand (800-800-2222), one of Apple's largest
authorized online resellers at www.macconnection.com.
MoreDirect, Inc. (561-237-3300), www.moredirect.com,
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 cloud-based eProcurement system.
Backed by over 500 technical certifications, MoreDirect's team of
engineers, software licensing specialists, and project managers help
reduce the cost and complexity of buying hardware, software, and
services throughout the entire IT lifecycle.
GovConnection, Inc. (800-800-0019) is a rapid-response provider of IT
products and services to federal, state, and local government agencies
and educational institutions through specialized account managers,
catalogs, publications, and online at www.govconnection.com.
pccc-g
"Safe Harbor" Statement Under the Private Securities Litigation Reform
Act of 1995: This release contains forward-looking statements that are
subject to risks and uncertainties, including, but 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, competitive products and pricing,
product availability and market acceptance, new products, fluctuations
in operating results, the ability of the Company to manage personnel
levels in response to fluctuations in revenue, and other risks that
could cause actual results to differ materially from these detailed
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, 2012. 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.
PC Connection, Inc.
Joseph Driscoll, 603-683-2322
Senior
Vice President, CFO and Treasurer
Source: PC Connection, Inc.
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