Press release
CDW Reports Record Fourth Quarter and Full Year Net Sales
Reinforces Power of Business Model and Strategy (Dollars in millions, except per share amounts)Three Months Ended December 31, 2019Three Months Ended December
About this update from Cdw Corporation
[{"type":"text","content":"Reinforces Power of Business Model and Strategy\n(Dollars in millions, except per share amounts)Three Months Ended December 31, 2019Three Months Ended December 31, 2018% Chg.Year Ended December 31, 2019Year Ended December 31, 2018% Chg.Net Sales$4,536.9 $4,074.8 11.3 $18,032.4 $16,240.5 11.0 Average Daily Sales172.0 64.7 11.3 71.0 63.9 11.0 Gross Profit777.5 693.8 12.1 3,039.9 2,706.9 12.3 Operating Income283.8 242.9 16.8 1,133.6 987.3 14.8 Net Income185.6 159.3 16.5 736.8 643.0 14.6 Non-GAAP Operating Income2342.3 299.5 14.3 1,368.4 1,216.6 12.5 Net Income per Diluted Share$1.27 $1.05 20.8 $4.99 $4.19 19.1 Non-GAAP Net Income per Diluted Share2$1.57 $1.32 18.4 $6.10 $5.17 18.0 1 There were 63 selling days for both the three months ended December 31, 2019 and 2018. There were 254 selling days for both the years ended December 31, 2019 and 2018.2 Non-GAAP measures used in this release that are not based on accounting principles generally accepted in the United States of America are each defined and reconciled to the most directly comparable GAAP measures in the attached schedules. LINCOLNSHIRE, Ill., Feb. 06, 2020 (GLOBE NEWSWIRE) -- CDW Corporation (Nasdaq:CDW), a leading multi-brand technology solutions provider to business, government, education and healthcare customers in the United States, the United Kingdom and Canada, today announced fourth quarter and year end 2019 results. CDW also announced the approval by its Board of Directors of a quarterly cash dividend to be paid in March 2020.\n \"We delivered excellent topline growth and profitability in the quarter and for the full year while continuing to invest in the future and deliver shareholder value,\" said Christine A. Leahy, chief executive officer, CDW. \"These results reinforce the strength of our strategy and power of our business model - underpinned by our balance across customer end markets, the breadth of our product and solutions portfolio and the ongoing execution of our strategy for growth.\" \"Excellent operating results were amplified by share repurchases, delivering an 18 percent increase in Non-GAAP net income per diluted share for 2019,\" said Collin B. Kebo, chief financial officer, CDW. \"Our performance drove strong free cash flow and enabled us to return $840 million to our shareholders in 2019 through share repurchases and dividends.\" \"For 2020, we ...