CDW-G boosts Q1 sales
- By John Moore
- Apr 19, 2005
Public-sector sales at CDW jumped nearly 21 percent in the first quarter, driven by market share gains, company officials said.
For the company’s public-sector unit, CDW officials reported first quarter sales of $299 million today compared with $247.6 million in the same period a year ago. Average daily sales increased to $4.7 million from $3.9 million. CDW Government houses CDW's public-sector business, which includes the federal, state, local and education sectors.
John Edwardson, CDW's chairman and chief executive officer, said CDW’s growth rate outpaced the market. "None of those [government and education segments] are growing at that rate," he said during an analyst teleconference. "We continue to take market share in each of those segments."
Jim Shanks, president of CDW-G, cited steady demand across the public sector. Shanks said the key is identifying funded opportunities and getting “in front of those as early as possible.”
Shanks added that the ability to share best practices across different market segments has also contributed to the company’s public-sector growth.
Overall, CDW generated companywide revenue of $1.5 billion during the first quarter, a 10.4 percent increase compared with the previous year. Net income rose 11 percent to $61.4 million. The company reported diluted earnings per share of $0.72, an increase of 14.3 percent.