CDW's Average Daily Sales Increase 24.6 Percent in March 2007 and 17.0 Percent in the First Quarter of 2007.Company to Release First Quarter of 2007 Results on April 24, 2007 VERNON HILLS Vernon Hill II (born circa 1946) is the founder and former chairman, president, and chief executive officer of Commerce Bancorp and Commerce Bank of Cherry Hill Township, New Jersey. , Ill. -- Seventh graph, first sentence should read: Total corporate sector segment sales in the first quarter of 2007 were $1.219 billion compared to $1.150 billion in the first quarter of 2006, representing an increase of 6.0 percent. (sted Total corporate sector segment sales in the first quarter of 2007 were $1.219 billion compared to $1.150 billion in the first quarter of 2005, representing an increase of 6.0 percent.) The corrected release reads: CDW'S AVERAGE DAILY SALES INCREASE 24.6 PERCENT IN MARCH 2007 AND 17.0 PERCENT IN THE FIRST QUARTER OF 2007 Company to Release First Quarter of 2007 Results on April 24, 2007 CDW CDW - data warehouse Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CDWC CDWC Computer Discount Warehouse (stock symbol) ), a leading provider of technology products and services to business, government and education, today announced average daily sales for March 2007 were $31.644 million, an increase of 24.6 percent compared to average daily sales of $25.392 million for March 2006. Total sales for March 2007 were $696.2 million, an increase of 19.2 percent compared to total sales of $584.0 million for March 2006. There were 22 billing days in March 2007 and 23 billing days in March 2006. As previously announced, CDW completed the acquisition of Berbee Berbee Information Networks Corporation, until its purchase by CDW, was a privately-held company. Berbee was founded in 1993 by James G. Berbee and it grew to over 300 million USD in revenue and more than 800 employees at the time of its sale in October, 2006. Information Networks Corporation on October October: see month. 11, 2006. March 2006 sales do not include Berbee sales, while March 2007 sales include Berbee sales. Excluding Berbee sales in March 2007, and therefore on a non-GAAP basis, CDW's average daily sales for March 2007 were $28.431 million, an increase of 12.0 percent compared to average daily sales for March 2006 of $25.392 million. Excluding Berbee sales in March 2007, and therefore on a non-GAAP basis, total sales for March 2007 were $625.5 million, an increase of 7.1 percent compared to total sales of $584.0 million for March 2006. There were 22 billing days in March 2007 and 23 billing days in March 2006. In March 2007, average daily sales for the corporate sector segment increased 11.3 percent and average daily sales for the public sector segment increased 13.7 percent compared to the prior year period. While CDW did not own Berbee prior to October 11, 2006, the Company is providing comparative information for Berbee. Compared to the prior year period, average daily sales for Berbee increased 110.1 percent in March 2007. Compared to the public sector and corporate sector segments, Berbee's business model is more project oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. , which can result in a greater degree of variability in sales on a monthly basis. Product categories that achieved the strongest year-over-year unit volume growth for the month on an average daily basis included notebook computers A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. , desktop computers, data storage, software, video and memory. Product categories exclude Berbee sales. First Quarter of 2007 sales results: Total sales in the first quarter of 2007 were $1.859 billion compared to $1.589 billion in the first quarter of 2006, an increase of 17.0 percent. Average daily sales in the first quarter of 2007 were $29.049 million compared to $24.822 million in the first quarter of 2006, representing a 17.0 percent increase. There were 64 billing days in both the first quarter of 2007 and the first quarter of 2006. As previously announced, CDW completed the acquisition of Berbee Information Networks Corporation on October 11, 2006. Total sales for the first quarter of 2006 do not include Berbee sales, while the first quarter of 2007 sales include Berbee sales. Excluding Berbee sales in the first quarter of 2007, and therefore on a non-GAAP basis, total sales were $1.716 billion, an increase of 8.0 percent compared to total sales of $1.589 billion for the first quarter of 2006. Excluding Berbee sales in the first quarter of 2007, and therefore on a non-GAAP basis, CDW's average daily sales for the first quarter of 2007 were $26.819 million, an increase of 8.0 percent compared to average daily sales for the first quarter of 2006 of $24.822 million. Total corporate sector segment sales in the first quarter of 2007 were $1.219 billion compared to $1.150 billion in the first quarter of 2006, representing an increase of 6.0 percent. First quarter of 2007 average daily sales for the corporate sector segment were $19.047 million compared to $17.972 million in the first quarter of 2006, representing an increase of 6.0 percent. Total public sector segment sales in the first quarter of 2007 were $497.4 million compared to $438.4 million in the first quarter of 2006, representing an increase of 13.4 percent. First quarter of 2007 average daily sales for the public sector segment were $7.772 million compared to $6.851 million in the first quarter of 2006, representing an increase of 13.4 percent. While CDW did not own Berbee prior to October 11, 2006, the Company is providing comparative information for Berbee. Compared to the prior year period, average daily sales for Berbee increased 69.3 percent in the first quarter of 2007. Compared to the public sector and corporate sector segments, Berbee's business model is more project oriented, which can result in a greater degree of variability in sales on a monthly basis. Product categories that achieved the strongest year-over-year unit volume growth for the first quarter of 2007 were notebook computers, data storage, software, video and input devices. Product categories exclude Berbee sales. "We are very pleased with the strong sales growth in all of our business segments in March and the first quarter, which reflects our stated objective to grow faster than the market. We remain focused on achieving profitable growth," said John A. Edwardson, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Company to Release First Quarter of 2007 Results on April 24, 2007 The Company will release its first quarter of 2007 results on Tuesday Tuesday: see week. , April 24, 2007, at 7:30 a.m. ET / 6:30 a.m. CT. On Tuesday, April 24, 2007, at 8:30 a.m. ET / 7:30 a.m. CT, management will review first quarter of 2007 results during a conference call. The conference call will be available via live webcast in listen-only mode on the Company's web site at www.cdw.com/investor. An audio replay of the call will be available approximately two hours after the event on www.cdw.com/investor for approximately two weeks. Forward Looking Statement Any forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained in this release are based on the Company's beliefs and expectations as of the date of this release and are subject to certain risks and uncertainties which may have a significant impact on the Company's business, operating results or financial condition. Should any risk or uncertainty materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described in forward-looking statements. Factors affecting the Company's business and prospects are discussed in the Company's filings with the Securities and Exchange Commission. About CDW CDW[R], ranked No. 343 on the FORTUNE 500, is a leading provider of technology solutions for business, government and education. CDW is a principal source of technology products and services including top name brands such as Acer Acer trees of the family Aceraceae. Acer rubrum ingestion of wilted or dries leaves of this tree causes acute hemolytic anemia characterized by red urine, jaundice, anemia and methemoglobinemia in horses. , Adobe adobe (ədō`bē): see rammed earth. adobe Handmade sun-dried bricks formed from a mixture of heavy clay and straw found in arid regions. , APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. , Apple, Cisco, Fujitsu (company) Fujitsu - A Japanese elecronics corporation. Fujitsu owns ICL, Amdahl Corporation, and DMR. Home USA, Japan. , HP, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Lenovo (Lenovo, Purchase, NY, www.lenovo.com) Asia's largest PC manufacturer, founded in China in 1984 by Liu Chuanzhi from the Chinese Academy of Sciences. In the late 1980s, the company, first known as Legend, introduced a circuit board that generated Chinese characters on Western-made PCs and , Microsoft, Panasonic, Quantum, Samsung, Sony, Symantec and ViewSonic. CDW's direct model offers customers one-on-one relationships with knowledgeable account managers and access to more than 760 on-staff engineers and advanced technology specialists who customize solutions for customers' complex technology needs. CDW also provides same-day product shipping and post-sales technical support. CDW was founded in 1984 and employs approximately 5,480 coworkers. In 2006, the company generated sales of $6.8 billion. For more information, visit CDW.com. For more information about CDW: Visit CDW on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the at http://www.cdw.com. Contact CDW Investor Relations Investor relations The process by which the corporation communicates with its investors. via the Internet at investorrelations@cdw.com or by telephone at 847-419-6328. CDW is a registered trademark and CDW@work is a trademark of CDW Corporation. Other company and product names may be trademarks of their respective owners. |
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