CDW Reports Third Quarter 2020 Earnings

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[{"type":"text","content":"\nReinforces Power of Business Model and Strategy\n\n LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--\nCDW Corporation (Nasdaq:CDW):\n\n\n\n(Dollars in millions, except per share amounts)\n\n\n\nThree Months\nEnded\nSeptember\n30, 2020\n\n\n\nThree Months\nEnded\nSeptember\n30, 2019\n\n\n\n%\nChg.\n\n\n\nNine Months\nEnded\nSeptember\n30, 2020\n\n\n\nNine Months\nEnded\nSeptember\n30, 2019\n\n\n\n%\nChg.\n\n\n\n\n\nNet Sales\n\n\n\n$\n\n\n\n4,756.4\n\n\n\n \n\n\n\n$\n\n\n\n4,907.7\n\n\n\n \n\n\n\n(3.1\n\n\n\n)\n\n\n\n$\n\n\n\n13,511.3\n\n\n\n \n\n\n\n$\n\n\n\n13,495.5\n\n\n\n \n\n\n\n0.1\n\n\n\n \n\n\n\n\n\nAverage Daily Sales1\n\n\n\n74.3\n\n\n\n \n\n\n\n76.7\n\n\n\n \n\n\n\n(3.1\n\n\n\n)\n\n\n\n70.4\n\n\n\n \n\n\n\n70.7\n\n\n\n \n\n\n\n(0.4\n\n\n\n)\n\n\n\n\n\nGross Profit\n\n\n\n825.5\n\n\n\n \n\n\n\n816.5\n\n\n\n \n\n\n\n1.1\n\n\n\n \n\n\n\n2,329.2\n\n\n\n \n\n\n\n2,262.4\n\n\n\n \n\n\n\n3.0\n\n\n\n \n\n\n\n\n\nOperating Income\n\n\n\n317.8\n\n\n\n \n\n\n\n320.6\n\n\n\n \n\n\n\n(0.9\n\n\n\n)\n\n\n\n847.0\n\n\n\n \n\n\n\n849.8\n\n\n\n \n\n\n\n(0.3\n\n\n\n)\n\n\n\n\n\nNet Income\n\n\n\n193.2\n\n\n\n \n\n\n\n201.7\n\n\n\n \n\n\n\n(4.2\n\n\n\n)\n\n\n\n550.2\n\n\n\n \n\n\n\n551.2\n\n\n\n \n\n\n\n(0.2\n\n\n\n)\n\n\n\n\n\nNon-GAAP Operating Income2\n\n\n\n386.3\n\n\n\n \n\n\n\n380.4\n\n\n\n \n\n\n\n1.5\n\n\n\n \n\n\n\n1,028.4\n\n\n\n \n\n\n\n1,026.1\n\n\n\n \n\n\n\n0.2\n\n\n\n \n\n\n\n\n\nNet Income per Diluted Share\n\n\n\n$\n\n\n\n1.33\n\n\n\n \n\n\n\n$\n\n\n\n1.37\n\n\n\n \n\n\n\n(2.6\n\n\n\n)\n\n\n\n$\n\n\n\n3.80\n\n\n\n \n\n\n\n$\n\n\n\n3.72\n\n\n\n \n\n\n\n2.3\n\n\n\n \n\n\n\n\n\nNon-GAAP Net Income per Diluted Share2\n\n\n\n$\n\n\n\n1.83\n\n\n\n \n\n\n\n$\n\n\n\n1.70\n\n\n\n \n\n\n\n8.0\n\n\n\n \n\n\n\n$\n\n\n\n4.77\n\n\n\n \n\n\n\n$\n\n\n\n4.54\n\n\n\n \n\n\n\n5.2\n\n\n\n \n\n\n\n\n\n1 There were 64 selling days for both the three months ended September 30, 2020 and 2019. There were 192 and 191 selling days for the nine months ended September 30, 2020 and 2019, respectively.\n\n\n\n\n\n2 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 US GAAP measure in the attached schedules.\n\n\n\n\nCDW Corporation (Nasdaq:CDW), a leading multi-brand technology solutions provider to business, governm...

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