ePlus Reports Fourth Quarter and Fiscal 2015 Results
Fourth Quarter Fiscal Year 2015
Net sales increased 2.8% from fourth quarter 2014
Consolidated gross margin increased to 22.0%; gross margin on sales of products and services expands 120 basis points to 20.0%
Earnings per diluted share of $1.22, up 18.4%
Adjusted EBITDA of $16.3 million, up 10.5%
Fiscal Year 2015
Net sales up 8.1%; technology segment net sales up 8.5%
Consolidated gross margin of 21.4%; gross margin on sales of products and services increased 110 basis points to 19.4%
Earnings per diluted share of $6.19; non-GAAP earnings per diluted share of $5.59
Adjusted EBITDA of $75.0 million, up 19.3%
HERNDON, VA - May 28, 2015 - ePlus inc. (NASDAQ NGS: PLUS - news), a leading provider of technology solutions, today announced financial results for the fourth quarter and fiscal year ended March 31, 2015.
"Results for the fourth quarter of fiscal 2015 represented another period of solid execution, delivering operating income growth of 7.7%, which is more than twice net sales growth," said Phillip G. Norton, CEO, chairman and president of ePlus. "In our technology segment, net sales increased 2.8%, demonstrating our success delivering complex IT solutions around cloud, unified communications and collaboration, data center, and security to our nationwide customer base, supported and complemented by professional and managed services.
"Fiscal year 2015 results showed positive comparisons from fiscal 2014, highlighting our ability to grow ahead of the rate of the overall IT market. Net sales in the technology segment were up 8.5%, including an increase in services revenue, as we grew sales to both new and existing customers. We continued to leverage our nationwide presence, multi-faceted expertise, and nurture relationships with both established and emerging vendors. Consolidated operating income grew 17.7% despite higher operating expenses as we expanded headcount to capture marketplace opportunities. Non-GAAP earnings per share, which excludes certain non-operating income, was up 27.9%. Other achievements for the year included increasing our involvement in the Californian State, Local and Education (SLED) market through the acquisition of Evolve, expanding our presence in New England and New York, and receiving multiple certifications and awards from our key vendors," Mr. Norton commented.
The following information was filed by Eplus Inc (PLUS) on Friday, May 29, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: PLUS CIK: 1022408 Form Type: 10-K Annual Report Accession Number: 0001022408-15-000017 Submitted to the SEC: Thu May 28 2015 6:26:20 PM EST Accepted by the SEC: Fri May 29 2015 Period: Tuesday, March 31, 2015 Industry: Wholesale Computers And Peripheral Equipment And Software