CompuCom Announces Root as Chairman and Reports Line of Business Information.DALLAS--(BUSINESS WIRE)--March 1, 1996--CompuCom Systems, Inc. (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 :CMPC CMPC Classified Matter Protection and Control CMPC Compañia Manufacturera de Papeles y Cartones S.A. CMPC Cisco Multi-Path Channel CMPC Children's Media Policy Coalition CMPC Central Milk Producers Cooperative CMPC Connecticut Minority Purchasing Council ), a PC services integration company, today announced that Charles A. Root has been named Chairman of the Board of Directors, effective immediately. Mr. Root has been a member of the Board since 1986 and had previously served as Vice Chairman of CompuCom from June 1988 until March 1991. He is currently an Executive Vice President of Safeguard Scientifics, Inc., Wayne, Pennsylvania Wayne is an unincorporated community and a U.S. Post Office located on the Main Line, centered in Delaware County, Pennsylvania, United States. While the center of Wayne is in Radnor Township, Wayne extends into both Tredyffrin Township in Chester County and Upper Merion Township , and has been with Safeguard since 1981. In addition, Mr. Root is a Director for the following public companies: Coherent Communications Systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. Corp., Tangram Enterprise Solutions, Inc., and USDATA Corporation. "We are pleased to have Chuck as Chairman, said Edward R. Anderson," president 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. of CompuCom. The leadership experience he has gathered from his years at Safeguard Scientifics, Inc., and its family of information technology companies, together with his knowledge of CompuCom will add significant value to his role as Chairman of our Board. Root noted, "I am pleased to extend my long association with CompuCom in this new role. We at Safeguard see our job as helping management teams serve all their stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. in a superior fashion. The CompuCom team succeeds on all fronts. I look forward to working with them and the Board in future periods as we continue on the path of excellence." Mr. Root replaces James W. Dixon who has joined ClientLink, Inc., a subsidiary of CompuCom, as president and CEO. CompuCom also released additional financial data to provide more information regarding its service business (see following). CompuCom Systems, Inc., headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. is a leading provider of PC product and network integration services for large corporate customers nationwide. CompuCom's services include: LAN/WAN LAN/WAN Local Area Network/Wide Area Network projects, help desk design and implementation, network management, field engineering, asset and procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. management, configuration, and product distribution. -0-
COMPUCOM SYSTEMS, INC. AND SUBSIDIARIES
Quarterly Comparative Data
Quarterly Financial Data (Unaudited)
1st 2nd 3rd 4th
Quarter Quarter Quarter Quarter
(in thousands, except per share amounts)
1995 Revenue Product $302,401 $324,427 $319,562 $388,052 Service 19,668 25,204 26,988 29,008 Other 1,418 1,079 1,349 2,441 Net Revenues 323,487 350,710 347,899 419,501 Gross Margin Product $31,751 $33,789 $33,134 $42,255 Service 5,571 8,240 8,261 8,689 Other 856 524 747 1,091 Total Gross Margin 38,178 42,553 42,142 52,035 Net Earnings 3,835 4,814 4,827 7,194 Earnings per common share: Primary .10 .12 .12 .16 Fully diluted .09 .11 .10 .15 1994 Revenue Product $269,804 $292,806 $290,974 $343,694 Service 11,053 13,185 14,754 16,903 Other 634 926 1,080 Net Revenues 280,857 306,625 306,654 361,677 Gross Margin Product $26,902 $29,264 $30,238 $35,250 Service 3,589 4,353 4,918 5,445 Other 389 613 732 Total Gross Margin 30,491 34,006 35,769 41,427 Net Earnings 2,765 3,259 3,271 5,364 Earnings per common share: Primary .08 .09 .09 .15 Fully diluted .07 .08 .08 .12 -0- Earnings per common share calculations are based on the weighted average number of shares outstanding in each period. Therefore, the sum of the quarters does not necessarily equal the year to date earnings per common share. Certain amounts in the 1994 and 1995 quarterly financial statements have been reclassified to conform with the fourth quarter 1995 presentation, the most significant of which is the reclassification Reclassification The process of changing the class of mutual funds once certain requirements have been met. These requirements are generally placed on load mutual funds. Reclassification is not considered to be a taxable event. of direct expenses related to the service business from operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. to cost of goods sold Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold . CONTACT: CompuCom Systems, Inc., Dallas Edward R. Anderson, President & CEO or Robert J. Boutin, CFO See Chief Financial Officer. , 214/265-3600 |
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