September 20, 2014 9:50 AM ET

Electronic Equipment, Instruments and Components

Company Overview of CDW Corporation

Company Overview

CDW Corporation provides information technology (IT) solutions in the United States and Canada. The company operates in two segments, Corporate and Public. It offers discrete hardware and software products to integrated IT solutions, such as mobility, security, data center optimization, cloud computing, virtualization, and collaboration. The company’s hardware products include notebooks/mobile devices, network communications, enterprise and data storage, video monitors, printers, desktop computers, and servers; and software products comprise application suites, security, virtualization, operating systems, network management, and software as a service offerings. It also provides a suite of va...

200 North Milwaukee Avenue

Vernon Hills, IL 60061

United States

Founded in 1984

7,040 Employees

Phone:

847-465-6000

Key Executives for CDW Corporation

Chairman
Age: 60
Total Annual Compensation: $793.8K
Chief Financial Officer and Senior Vice President
Age: 55
Total Annual Compensation: $400.8K
Senior Vice President of Strategic Solutions & Services
Age: 49
Total Annual Compensation: $328.5K
Chief Marketing Officer and Senior Vice President
Age: 52
Total Annual Compensation: $275.0K
Senior Vice President of Corporate Sales
Age: 46
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2013.

CDW Corporation Key Developments

CDW Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

CDW Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Total net sales in the second quarter of 2014 were $3.106 billion, compared to $2.779 billion in the second quarter of 2013, an increase of 11.8%. Adjusted EBITDA was $247.1 million in the second quarter of 2014, compared to $212.6 million in the second quarter of 2013, representing an increase of 16.3%. Net income was $86.6 million or $0.50 per diluted share in the second quarter of 2014 versus net income of $46.7 million or $0.32 per diluted share in the second quarter of 2013. Non-GAAP net income was $115.9 million in the second quarter of 2014, compared to $79.2 million in the second quarter of 2013, representing an increase of 46.3% driven by stronger operating results and lower interest expense. Income from operations was $188.2 million against $153.6 million a year ago. Income before income taxes was $137.2 million against $73.2 million a year ago. Non-GAAP net income per diluted share was $0.67 against $0.46 a year ago. For the six months, the company's total net sales were $5.758 billion, compared to $5.191 billion in the first six months of 2013, an increase of 10.9%. Adjusted EBITDA was $440.8 million in the first six months of 2014, compared to $391.2 million in the first six months of 2013, representing an increase of 12.7%. Net income was $137.5 million or $0.80 per diluted share for the first six months of 2014, up 83.4% compared to net income of $75.0 million or $0.51 per diluted share in the first six months of 2013. Non-GAAP net income was $197.0 million in the first half of 2014, compared to $135.5 million in the first half of 2013, representing an increase of 45.4% driven by stronger operating results and lower interest expense. Non-GAAP net income per diluted share for the six months ended June 30, 2014 was $1.14 against $0.79 a year ago. Income from operations was $324.0 million against $273.7 million a year ago. Income before income taxes was $218.0 million against $117.7 million a year ago. The company finished the quarter with $2.9 billion of net debt, $165 million less than the beginning of the year. Cash flows from operating activities were $175.9 million against $207.1 million a year ago. Capital expenditures and other cash flows from investing activities was $21.0 million against $20.0 million a year ago. The company expects 2014 non-GAAP net income growth to be significantly stronger in the first three quarters of the year, than in fourth quarter. The company continues to expect 2014 effective tax rate to be higher than last year in the 37% to 38.

CDW Corporation Approves Quarterly Cash Dividend, Payable on September 10, 2014

CDW Corporation announced that its Board of Directors has approved the payment of a quarterly cash dividend to shareholders of $0.0425 per share. This dividend will be paid on September 10, 2014 to all shareholders of record as of the close of business on August 25, 2014.

CDW Corporation to Report Q2, 2014 Results on Jul 31, 2014

CDW Corporation announced that they will report Q2, 2014 results on Jul 31, 2014

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