Insight might have had a disappointing sales year, but you can’t really tell because its increased margins made the outfit look extremely healthy.
The company saw its net sales remain flat year-on-year and earnings from operations decrease by three per cent but gross profit improved by four percent to $275.4 million as the business moved to higher margin areas, including cloud solutions and its hardware sales. Net sales in EMEA were down by seven percent in the quarter, coming in at $379.2 million.
PCM operates across the US, Canada and the UK with more than 40 offices and 4,000 staff and it has been expanding over the last 18 months with several acquisitions.
Insight president and CEO Ken Lamneck, said: “In the second quarter we executed well against our strategy to deliver IT solutions to our clients globally, leading with services and solutions that drive business outcomes for our clients and result in improved profitability for our business. We also announced plans to acquire PCM to strategically expand our scale and reach with new clients in North America and EMEA.
“Our execution so far in 2019 has driven earnings results ahead of our expectations and our core business is on track to exceed our previously stated financial targets for 2019 while we also work to expeditiously close the acquisition and begin integrating PCM’s business into ours,” he added.
