Insight Enterprises, Inc. Reports Fourth Quarter and Record Full Year 2019 Results

About this update from Insight Enterprises, Inc.

[{"type":"text","content":" TEMPE, Ariz.--(BUSINESS WIRE)--\nInsight Enterprises, Inc. (NASDAQ: NSIT) (the “Company”) today reported financial results for the quarter and full year ended December 31, 2019. Highlights include:\n\n\n\nNet sales increased 31% year over year to $2.3 billion for the fourth quarter and 9% year over year to $7.7 billion for the full year\n\n\nGross profit increased 33% year over year to $338.0 million for the fourth quarter and 15% year over year to $1.1 billion for the full year\n\n\nDiluted earnings per share of $1.20 decreased 8% for the fourth quarter year to year and diluted earnings per share of $4.43 decreased 3% for the full year compared to the prior year\n\n\nAdjusted diluted earnings per share of $1.57 increased 11% year over year for the fourth quarter and Adjusted diluted earnings per share of $5.42 increased 9% for the full year compared to the prior year\n\n\n\nIn the fourth quarter of 2019, net sales increased 31%, gross profit increased 33% and gross margin increased 20 basis points compared to the fourth quarter of 2018. The increases are primarily the result of our acquisition of PCM, Inc. (“PCM”) on August 30, 2019. Earnings from operations increased 14% and diluted earnings per share decreased 8%, year to year, primarily as a result of acquisition-related and severance and restructuring expenses incurred in the fourth quarter of 2019 while Adjusted diluted earnings per share increased 11% compared to the same period in the prior year.\n\n\n“Our fourth quarter results reflect the scale and momentum in our business leading to another record year for our company,” stated Ken Lamneck, President and Chief Executive Officer. “In the fourth quarter of 2019 we continued to execute against our strategy to deliver IT solutions to our clients globally, leading with services and solutions that drive business outcomes for our clients. In addition, we focused on bringing PCM teammates into the Insight organization and executed against our integration plans while delivering solid financial results,” stated Lamneck.\n\n\nFor the full year 2019, consolidated net sales were $7.7 billion, up 9% year over year, reflecting strong growth in services, including higher volume net sales of cloud solutions offerings and software maintenance, and the addition of PCM. Gross profit increased 15%, year over year, with gross margins incre...

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