Wayside Technology Group Reports First Quarter 2020 Results
Wayside Technology Group, Inc. (WSTG)
US:NASDAQ Investor Relations:
waysidetechnology.com
Company Research
Source: GlobeNewswire
Q1 Net Sales up 40% to $62.6 million; Drives Strongest Quarterly Gross Profit in 20+ Years Momentum Continues Through First Quarter Despite COVID-19 EATONTOWN, N.J., May 07, 2020 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (“Wayside” or the “Company”), an IT channel company providing innovative sales and distribution solutions, is reporting results for the first quarter ended March 31, 2020. First Quarter 2020 Highlights vs. Same Year-Ago Quarter Net sales increased 40% to $62.6 million.Gross profit increased 13% to $8.2 million.Net income was $0.8 million or $0.18 per share, compared to $1.5 million or $0.32 per share.Net income excluding legal and financial advisory expenses - unsolicited bid and related matters and acquisition related costs, net of taxes (a non-GAAP financial measure defined below) was $2.1 million or $0.48 per share, compared to 1.5 million or $0.32 per share.Adjusted EBITDA (a non-GAAP financial measure defined below) increased 38% to
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