CompuCom Reports 41 Percent Earnings Increase.DALLAS--(BUSINESS WIRE)--Jan. 31, 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 operating results for the year ended December December: see month. 31, 1995. Net earnings of $20.67 million were 41 percent higher than comparable 1994 earnings of $14.66 million. Revenues increased 15 percent to $1.44 billion compared with revenues of $1.25 billion for 1994. Primary earnings per share for 1995 increased to $.51/share from $.40/share in 1994, while fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were $.44/share, up from $.34/share in 1994. Fourth quarter revenues rose 16% to $420 million in 1995 compared to $362 million in 1994. Net earnings for the fourth quarter increased 34 percent to $7.19 million from $5.36 million in the fourth quarter 1994. Primary earnings per share for the fourth quarter increased to $.16/share from $.15/share in 1994, while fully diluted earnings per share were $.15/share, up from $.12/share in 1994. The fourth quarter 1995 primary earnings per share were impacted by the October October: see month. 1995 conversion of $18.5 million of 9% Convertible Subordinated Notes into 8.4 million shares of the Company's Common Stock. Fully diluted earnings per share were not impacted by this conversion. "We had another record year. We grew profits approximately two and one-half times faster than revenues, which is an indication that our service strategy is working. We ended the year with over $100 million in services: an 80% increase from 1994, and more than six times faster than product growth. The service growth, combined with continued improvement in the product business, allowed us to increase our pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern earnings as a percentage of revenues to 2.38% for 1995 compared to 1.94% in 1994. We have continued to strengthen our balance sheet, and have positioned ourselves for another year of significant service growth for 1996," said Edward Edward killed his father at his mother’s instigation. [Br. Balladry: Edward in Benét, 302] See : Patricide R. Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic , CompuCom's 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. . CompuCom's strategy continues to be focused on expanding its enterprise network integration capabilities through internal growth and the acquisition of successful regional service providers. In March 1995 CompuCom acquired certain assets of Allerion Al`le´ri`on n. 1. (Her.) Am eagle without beak or feet, with expanded wings. , Inc. (a network integration company), Trellis/Hayes/Micronet, L.C. (a provider of enterprise network integration services and training), and Benchmark Network Systems (a LAN/WAN LAN/WAN Local Area Network/Wide Area Network project services company); in November November: see month. 1995 the Company acquired Network Compatibility Group, Inc., another network integration company. "For years, CompuCom has been a leader in product distribution," noted Anderson. "However, the customers' needs have changed. Differentiation from our competitors and ongoing business success are achieved by superior configuration and LAN/WAN project deployment. The Company is positioned to meet all of these needs." 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 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.
Comparative Financial Data
(All amounts in thousands except per share amounts)
3 Months Ended Year Ended
December 31, December 31,
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1995 1994 1995 1994
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Net revenues $419,501 $361,677 $1,441,597 $1,255,813 Gross Margin(a) $ 52,035 $ 41,427 $ 174,908 $ 141,693 Net Earnings $ 7,194 $ 5,364 $ 20,670 $ 14,659 Earnings per common share: - Primary $.16 $.15 $.51 $.40 - Fully diluted $.15 $.12 $.44 $.34 Average common shares outstanding: - Primary 43,893 35,303 38,449 35,714 - Fully diluted 49,639 43,712 49,301 44,123 (a) CompuCom has reclassified certain service-related expenses from operating expense to cost of sales for all periods presented. The effect of this reclassification resulted in a decrease in operating expense and a corresponding increase in cost of sales of $15,753 and $9,117 for the three months ended December 31, 1995 and 1994, respectively; and $53,840 and $29,108 for the years ended December 31, 1995 and 1994, respectively. -0-
CompuCom Systems, Inc.
Summary Balance Sheet
December 31, 1995
12/31/95 12/31/94
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Accounts Receivable $265,071 $233,589
Inventory 196,531 155,561
Other Current Assets 6,400 6,221
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Total Current Assets 468,002 395,371
Other Assets 40,702 34,160
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Total Assets $508,704 $429,531
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Current Liabilities $243,047 $191,965 Long-Term Debt 120,364 118,974 Deferred Income Taxes 3,952 6,010 Convertible Subordinated Notes 3,000 18,214
Stockholders' Equity 138,341 94,368
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Total Liabilities and
Stockholders' Equity $508,704 $429,531
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CONTACT: CompuCom Systems Inc., Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. Edward R. Anderson or Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. J. Boutin, 214/265-3600 |
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