Insight Sales Higher for Q4, Full YearBy Jessica Davis | Posted 2008-02-07 Email Print
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But the direct market reseller's decline in North American hardware sales contributed to a 4 percent slide in net sales for that region.
Direct market reseller Insight Enterprises reported higher net sales for its fourth quarter and full year ended Dec. 31 in spite of weak hardware sales in the Americas in Q4.
Insight reported net sales of $1.28 billion for Q4 and $4.8 billion for the full year, representing increases of 5 percent and 34 percent, respectively.
Net earnings from continuing operations for the fourth quarter increased 29 percent to $23.8 million, while annual net earnings from continuing operations increased 13 percent to $72 million, the company said in a statement. Diluted earnings per share were 50 cents for the fourth quarter and $1.56 for the full year.
A decrease in hardware sales in North America contributed to a 4 percent decline in sales in that region during the fourth quarter.
Looking ahead, Insight said it expects organic net sales for the full year 2008 to grow faster than market growth of about 5 percent. The company said fully diluted earnings per share are expected to range between $1.80 and $1.95, of which 50 percent to 55 percent is expected to be recorded in the first half of the year.