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 2009 FOURTH QUARTER
RESULTS AND DECLARES QUARTERLY DIVIDEND

- Revenue: $42.3 million, up 6% year-over-year

- Net income $0.9 million, $.20 per share

- $.15 dividend declared

SHREWSBURY, NJ, February 4, 2010
– Wayside Technology Group, Inc. (NASDAQ: WSTG) today reported financial results for the fourth quarter ended December 31, 2009. The results will be discussed in a conference call to be held on Friday, February 5, 2010 at 10:00 AM Eastern time. The dial-in telephone number is (866) 238-0637 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.
 
Net income for the fourth quarter of 2009 amounted to $900,000 or 2.1% of net sales as compared to $902,000 or 2.2% for the same period in 2008.

Cash and marketable securities amount to $16.1 million, representing 67% of equity as of December 31, 2009. The company has no debt.
 
Total net sales for the fourth quarter of 2009 amounted to $42.3 million, compared to $40.0 million for the same period in 2008, representing a 6% increase. Sales for the fourth quarter of 2009 for the Lifeboat segment were $28.9 million compared to $22.7 million in the fourth quarter of 2008, representing a 27% increase. Sales for the fourth quarter of 2009 for the Programmer’s Paradise segment were $13.4 million, compared to $17.3 million in the fourth quarter of 2008, representing a 23% decline.
 
Total gross profit for the fourth quarter of 2009 amounted to $4.4 million, compared to $4.5 million for the same period in 2008. Gross profit for the fourth quarter of 2009 for the Lifeboat segment was $3.1 million, compared to $2.5 million in the fourth quarter of 2008. Gross profit for the fourth quarter of 2009 for the Programmer’s Paradise segment was $1.3 million, compared to $2.0 million in the fourth quarter of 2008. The decrease in gross profit dollars for the Programmer’s Paradise segment was primarily due to the lower sales volume. Q4 revenue for our Lifeboat segment increased due to strong growth for some of our product lines as well as signing on more software publishers. As a result, gross profit dollars for our Lifeboat segment increased by 25% in the fourth quarter of 2009.
 

The following information was filed by Wayside Technology Group, Inc. (WSTG) on Friday, February 5, 2010 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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