Exhibit 99.1

 

GRAPHIC

Company Contact:

Kevin Scull

Wayside Technology Group, Inc.

Vice President and Chief Accounting Officer

 

(732) 389-0932

 

kevin.scull@waysidetechnology.com

 

WAYSIDE TECHNOLOGY GROUP, INC. REPORTS 2011 FOURTH QUARTER RESULTS AND DECLARES QUARTERLY DIVIDEND

 

-         4th quarter revenue: $74.2 million, up 14% year-over-year

 

-         2011 revenue: $250.2 million, up 21% year-over-year

 

-         4th quarter income from operations $3.1 million, up 29% year-over-year

 

-         2011 income from operations: $8.6 million, up 27% year-over-year

 

-         2011 diluted earnings per share: $ 1.20 per share, up 22% year-over-year

 

-         $.16 quarterly dividend declared

 

SHREWSBURY, NJ, February 2, 2012

— Wayside Technology Group, Inc. (NASDAQ: WSTG) today reported financial results for the fourth quarter ended December 31, 2011. The results will be discussed in a conference call to be held on Friday, February 3, 2012 at 10:00 AM Eastern time. The dial-in telephone number is (866) 804-3547 and the pass code is “WSTG”.

 

This conference call will be available via live webcast — in listen-mode only — at www.earnings.com. A replay will also be available on the company’s website at www.waysidetechnology.com.

 

Cash and marketable securities amounted to $14.6 million, representing 50% of equity as of December 31, 2011.

 

Net sales for the fourth quarter of 2011 increased 14% or $9.3 million to $74.2 million compared to $64.9 million for the same period in 2010. Total sales for the fourth quarter of 2011 for our Lifeboat segment were $55.1 million compared to $45.8 million in the fourth quarter of 2010, representing a 20% increase. Total sales for the fourth quarter of 2011 for our TechXtend segment were $19.1 million compared to $19.1 million in the fourth quarter of 2010.

 

Net sales for 2011 increased 21% or $43.4 million to $250.2 million compared to $206.7 million in 2010. Total sales for our Lifeboat segment in 2011 were $192.7 million compared to $149.2 million in 2010, representing a 29% increase. Total sales for the TechXtend segment in 2011 amounted to $57.4 million, compared to $57.6 million in 2010.

 

“The fourth quarter of 2011 was a great success for us,” said Simon F. Nynens, Chairman and Chief Executive Officer. “Our continued high growth rate shows that software publishers and our customers are very satisfied with our service model, as we continue to expand our offerings.”

 

The increase in net sales for the three month and full year periods ended December 31, 2011 compared to the same periods in 2010, was mainly a result of our continued focus on the expanding virtual

 


The following information was filed by Wayside Technology Group, Inc. (WSTG) on Friday, February 3, 2012 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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