ePlus Reports Fourth Quarter and Fiscal Year 2019 Financial Results
Full Year Consolidated Gross Margin Increased 130-basis points to 24.1%
Fourth Quarter Ended March 31, 2019
Net sales decreased 1.3% to $325.4 million; service revenues increased 22.8% to $45.0 million; technology segment net sales decreased 1.9% to $313.2 million.
Adjusted gross billings increased 6.8% to $472.4 million.
Consolidated gross profit decreased 0.4% to $81.3 million.
Consolidated gross margin was 25.0%, an increase of 30 basis points.
Net earnings increased 69.2% to $15.1 million.
Adjusted EBITDA decreased 16.0% to $19.6 million.
Diluted earnings per share increased 72.3% to $1.12. Non-GAAP diluted earnings per share decreased 2.8% to $1.03.
Fiscal Year Ended March 31, 2019
Net sales decreased 3.3% to $1,372.7 million; service revenues increased 15.4% to $149.5 million; technology segment net sales decreased 3.2% to $1,329.5 million.
Adjusted gross billings increased 1.0% to $1,919.0 million.
Consolidated gross profit increased 2.1% to $330.4 million.
Consolidated gross margin was 24.1%, an increase of 130 basis points.
Net earnings increased 14.6% to $63.2 million.
Adjusted EBITDA decreased 2.3% to $100.4 million.
Diluted earnings per share increased 17.7% to $4.65. Non-GAAP diluted earnings per share increased 1.6% to $5.12.
ePlus Reports Fourth Quarter and Fiscal Year 2019 Financial Results
