Insight’s EMEA arm posted a net sales increase of two per cent for its second quarter despite a decline in its services sales.
EMEA net sales were $426.3 million for the quarter, which Insight said represented a 14 percent increase when excluding the effects of fluctuating currency rates.
Product sales for the region were up four percent to $368.4 million but services sales in EMEA fell by seven percent to $58 million.
Earnings from operations in EMEA decreased seven percent to $18 million, but Insight claims that its EMEA operations earnings actually increased by four percent when excluding fluctuating currency exchange rates.
Despite this, the reseller posted record second quarter results for the entire business thanks to strong gains in its other regions.
Net sales increased 23 percent year-over-year to a record $2.74 billion, while earnings from operations also set a new second quarter record at $129.5 million – up 46 percent.
Product net sales increased 24 per cent compared with the same quarter in the prior year, while services net sales surged by 16 percent.
And diluted earnings per share for the quarter was $2.42, up 53 percent.
“I am thrilled to report that performance in the second quarter was outstanding”, said president and CEO Joyce Mullen.
“Insight achieved record results in net sales, gross profit, adjusted earnings from operations and adjusted diluted earnings per share.
“I’m particularly pleased with the results in our services business which grew 16 percent over last year, driven by growth in our cloud and Insight core services.
“We also continued to drive significant operating efficiencies, as demonstrated by the improvement in our EBITDA margin.”
For the full year, the reseller said it expects to deliver low double digit net sales growth, while adjusted diluted earnings per share is expected to be between $8.55 and $8.75.
European minions saw a net sales increase of two per cent for its second quarter despite a decline in its services sales.
European net sales were $426.3 million for the quarter, which Insight said represented a 14 percent increase when excluding the effects of fluctuating currency rates.
Product sales for the region were up four per cent to $368.4 million but services sales in EMEA fell by seven percent to $58m.
Earnings from operations in Europe decreased seven percent to $18 million, but Insight claims that its European operations earnings actually increased by four percent when excluding fluctuating currency exchange rates.
Despite this, the reseller posted record second quarter results for the entire business thanks to strong gains in its other regions.
Net sales increased 23 percent year-over-year to a record $2.74 billion, while earnings from operations also set a new second quarter record at $129.5 million – up 46 percent.
Product net sales increased 24 percent compared with the same quarter in the prior year, while services net sales surged by 16 percent.
And diluted earnings per share for the quarter was $2.42, up 53 percent.
CEO Joyce Mullen said: “Insight achieved record results in net sales, gross profit, adjusted earnings from operations and adjusted diluted earnings per share. I’m particularly pleased with the results in our services business which grew 16 percent over last year, driven by growth in our cloud and Insight core services.”
