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Financial Statements

  Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Restated) Year Ending Dec 2012 (Restated)
Net Sales 2.25M 1.66M 1.36M 1.36M 1.34M
Revenue 2.25M 1.66M 1.36M 1.36M 1.34M
Total Revenue 2.25M 1.66M 1.36M 1.36M 1.34M
Cost of Revenue 1.93M 1.44M 1.16M 1.17M 1.16M
Cost of Revenue, Total 1.93M 1.44M 1.16M 1.17M 1.16M
Gross Profit 318.80 224.33 192.07 189.50 184.13
Selling/General/Administrative Expense 282.01 249.81 176.36 171.28 170.12
Labor & Related Expense 2.00
Selling/General/Administrative Expenses, Total 284.01 249.81 176.36 171.28 170.12
Impairment-Assets Held for Use
Other Unusual Expense (Income)
Unusual Expense (Income)
Other, Net -- 0.39
Other Operating Expenses, Total -- 0.39
Total Operating Expense 2.22M 1.69M 1.34M 1.34M 1.33M
Operating Income 34.79 -25.48 15.71 18.22 13.62
Interest Income (Expense), Net Non-Operating -6.08 -3.86 -3.18 -3.34 -3.79
Interest Income (Expense), Net-Non-Operating, Total -6.08 -3.86 -3.18 -3.34 -3.79
Net Income Before Taxes 28.71 -29.34 12.53 14.88 9.83
Income Tax – Total 11.12 -11.39 5.49 6.24 4.13
Income After Tax 17.59 -17.95 7.04 8.65 5.69
Net Income Before Extraordinary Items 17.59 -17.95 7.04 8.65 5.69
Discontinued Operations -- -0.31 -1.57 -0.52 -0.60
Total Extraordinary Items -- -0.31 -1.57 -0.52 -0.60
Net Income 17.59 -18.26 5.47 8.13 5.09
Income Available to Common Excluding Extraordinary Items 17.59 -17.95 7.04 8.65 5.69
Income Available to Common Stocks Including Extraordinary Items 17.59 -18.26 5.47 8.13 5.09
Basic Weighted Average Shares 11.85 12.05 12.25 11.58 11.99
Basic EPS Excluding Extraordinary Items 1.49 -1.49 0.57 0.75 0.47
Basic EPS Including Extraordinary Items 1.49 -1.52 0.45 0.70 0.42
Dilution Adjustment
Diluted Net Income 17.59 -18.26 5.47 8.13 5.09
Diluted Weighted Average Shares 12.53 12.05 12.88 11.92 12.16
Diluted EPS Excluding Extraordinary Items 1.40 -1.49 0.55 0.73 0.47
Diluted EPS Including Extraordinary Items 1.40 -1.52 0.42 0.68 0.42
DPS - Common Stock Primary Issue -- --
Gross Dividends - Common Stock -- -- -- -- --
Stock-Based Compensation, Supplemental 1.96 1.59 1.50 1.52 1.90
Depreciation, Supplemental 9.98 10.92 11.59 10.13 9.90
Total Special Items
Normalized Income Before Taxes 28.71 -29.34 12.53 14.88 9.83
Effect of Special Items on Income Taxes
Income Taxes Excluding Impact of Special Items 11.12 -11.39 5.49 6.24 4.13
Normalized Income After Taxes 17.59 -17.95 7.04 8.65 5.69
Normalized Income Available to Common 17.59 -17.95 7.04 8.65 5.69
Basic Normalized EPS 1.49 -1.49 0.57 0.75 0.47
Diluted Normalized EPS 1.40 -1.49 0.55 0.73 0.47
Amortization of Intangibles, Supplemental 5.80 1.30 0.30 1.70 2.60
Rental Expense, Supplemental 5.80 4.20 4.60 4.90 4.80
Advertising Expense, Supplemental
Audit-Related Fees, Supplemental 1.49 1.75 1.13 0.95 1.14
Audit-Related Fees -- 0.58 -- --
Tax Fees, Supplemental 0.47 0.56 0.18 0.14 0.09
All Other Fees Paid to Auditor, Supplemental -- --
Gross Margin 14.17 13.50 14.16 13.93 13.72
Operating Margin 1.55 -1.53 1.16 1.34 1.01
Pretax Margin 1.28 -1.77 0.92 1.09 0.73
Effective Tax Rate 38.72 43.83 41.90 42.07
Net Profit Margin 0.78 -1.08 0.52 0.64 0.42
Normalized EBIT 34.79 -25.48 15.71 18.22 13.62
Normalized EBITDA 50.58 -13.27 27.60 30.05 26.11
Current Tax - Domestic 7.01 -2.62 0.26 2.92 0.25
Current Tax - Foreign 1.91 0.72 0.61 0.83 0.10
Current Tax - Local 0.95 0.08 0.41 0.95 0.86
Current Tax - Other
Current Tax - Total 9.87 -1.82 1.28 4.70 1.22
Deferred Tax - Domestic 1.35 -8.30 3.85 1.60 2.40
Deferred Tax - Foreign -0.37 -0.12 -0.18 -0.34 0.31
Deferred Tax - Local 0.27 -1.16 0.55 0.29 0.22
Deferred Tax - Total 1.25 -9.58 4.21 1.54 2.92
Income Tax - Total 11.12 -11.39 5.49 6.24 4.13
Defined Contribution Expense - Domestic 0.80 0.66 0.55 0.53 0.52
Total Pension Expense 0.80 0.66 0.55 0.53 0.52
Retail Sales 2.25M 1.66M 1.40M 1.41M 1.42M
  Year Ending Dec 2016 (Restated) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Reclassified) Year Ending Dec 2012 (Reclassified)
Cash & Equivalents 7.17 11.18 8.89 9.99 6.54
Cash and Short Term Investments 7.17 11.18 8.89 9.99 6.54
Accounts Receivable - Trade, Gross 359.78 341.58 200.03 197.16 191.54
Provision for Doubtful Accounts -0.83 -0.56 -0.43 -1.41 -1.46
Accounts Receivable - Trade, Net 358.95 341.02 199.60 195.75 190.08
Receivables - Other
Total Receivables, Net 358.95 341.02 199.60 195.75 190.08
Total Inventory 80.87 55.39 50.69 111.44 68.94
Prepaid Expenses 16.25 17.88 15.94 14.89 14.03
Deferred Income Tax - Current Asset 4.43 3.92 2.58 3.00
Discontinued Operations - Current Asset 5.81 5.81 0.03 5.85
Other Current Assets, Total 5.81 10.24 3.95 8.43 3.00
Total Current Assets 469.06 435.70 279.07 340.51 282.59
Buildings - Gross 31.63 26.47 15.79
Land/Improvements - Gross 12.85 12.01 12.01
Machinery/Equipment - Gross 73.76 88.60 76.12
Other Property/Plant/Equipment - Gross 6.31 6.02 4.90
Property/Plant/Equipment, Total - Gross 124.55 133.10 108.81
Accumulated Depreciation, Total -67.78 -58.73 -53.02
Property/Plant/Equipment, Total - Net 56.35 56.77 74.37 55.79 48.18
Goodwill, Net 83.39 80.55 25.51 25.51 25.51
Intangibles - Gross 23.42 23.33 6.14 6.09 12.41
Accumulated Intangible Amortization -8.35 -2.52 -1.47 -1.40 -5.31
Intangibles, Net 15.07 20.81 4.67 4.68 7.10
Deferred Income Tax - Long Term Asset 0.95 0.94 0.23 0.38
Discontinued Operations - Long Term Asset -- 0.01 1.30
Other Long Term Assets 4.99 5.40 5.56 6.80 1.98
Other Long Term Assets, Total 5.94 6.34 5.57 8.33 2.36
Total Assets 629.81 600.17 389.19 434.82 365.74
Accounts Payable 276.52 201.52 122.33 130.81 102.97
Accrued Expenses 63.40 51.58 26.11 30.30 30.37
Notes Payable/Short Term Debt 107.40 162.44 52.80 110.50 87.63
Current Portion of Long Term Debt/Capital Leases 11.17 12.91 3.74 1.17 0.81
Customer Advances 10.96 11.46 10.09 9.43 5.41
Discontinued Operations – Current Liability 4.60 4.95 0.58 0.71
Other Current liabilities, Total 15.56 16.41 10.67 10.14 5.41
Total Current Liabilities 474.05 444.86 215.64 282.91 227.20
Long Term Debt 18.75 21.45 28.02 18.25 16.75
Total Long Term Debt 18.75 21.45 28.02 18.25 16.75
Total Debt 137.31 196.81 84.55 129.91 105.19
Deferred Income Tax - Long Term Liability 1.50 4.05 12.22 7.90 5.68
Deferred Income Tax 1.50 4.05 12.22 7.90 5.68
Other Long Term Liabilities 7.04 20.29
Other Liabilities, Total 7.04 20.29
Total Liabilities 501.34 490.66 255.87 309.06 249.62
Redeemable Preferred Stock -- -- -- --
Redeemable Preferred Stock, Total -- -- -- --
Common Stock 0.02 0.02 0.02 0.02 0.01
Common Stock, Total 0.02 0.02 0.02 0.02 0.01
Additional Paid-In Capital 127.78 122.93 120.92 115.80 111.95
Retained Earnings (Accumulated Deficit) 28.25 10.66 28.92 23.45 15.32
Treasury Stock - Common -26.93 -23.33 -17.47 -15.32 -13.69
Other Comprehensive Income -0.64 -0.77 0.94 1.82 2.51
Other Equity, Total -0.64 -0.77 0.94 1.82 2.51
Total Equity 128.47 109.52 133.32 125.76 116.11
Total Liabilities & Shareholders' Equity 629.81 600.17 389.19 434.82 365.74
Shares Outstanding – Common Stock Primary Issue 11.97 11.91 12.27 11.79 11.53
Total Common Shares Outstanding 11.97 11.91 12.27 11.79 11.53
Treasury Shares – Common Primary Issue 4.50 4.09 3.49 3.26 3.04
Employees 3.58M 3.67M 2.64M 2.84M 2.83M
Part-Time Employees 69.00 74.00 66.00 83.00 65.00
Number of Common Shareholders 20.00 20.00 21.00 21.00 24.00
Accumulated Intangible Amortization 8.35 2.52 1.47 1.40 5.31
Deferred Revenue - Current 10.96 11.46 10.09 9.43 5.41
Total Current Assets less Inventory 388.18 380.31 228.38 229.06 213.65
Quick Ratio 0.82 0.85 1.06 0.81 0.94
Current Ratio 0.99 0.98 1.29 1.20 1.24
Net Debt 130.14 185.63 75.66 119.92 98.66
Tangible Book Value 30.01 8.16 103.13 95.57 83.50
Tangible Book Value per Share 2.51 0.68 8.41 8.11 7.25
Total Long Term Debt, Supplemental 201.60
Long Term Debt Maturing within 1 Year 180.15
Long Term Debt Maturing in Year 2 2.88
Long Term Debt Maturing in Year 3 2.35
Long Term Debt Maturing in Year 4 8.53
Long Term Debt Maturing in Year 5 1.97
Long Term Debt Maturing in 2-3 Years 5.23
Long Term Debt Maturing in 4-5 Years 10.50
Long Term Debt Maturing in Year 6 & Beyond 5.72
Interest Costs
Total Capital Leases 3.70 4.86 7.01 8.68
Capital Lease Payments Due in Year 1 2.27 2.31 2.49 2.92
Capital Lease Payments Due in Year 2 1.03 1.82 2.22 2.23
Capital Lease Payments Due in Year 3 0.18 0.68 1.70 1.86
Capital Lease Payments Due in Year 4 0.16 0.04 0.58 1.38
Capital Lease Payments Due in Year 5 0.06 0.02 0.03 0.29
Capital Lease Payments Due in 2-3 Years 1.21 2.49 3.91 4.08
Capital Lease Payments Due in 4-5 Years 0.21 0.06 0.61 1.67
Capital Lease Payments Due in Year 6 & Beyond -- -- -- --
Total Operating Leases 23.26 22.28 22.54 15.80
Operating Lease Payments Due in Year 1 6.96 6.28 5.74 5.58
Operating Lease Payments Due in Year 2 4.20 5.00 5.27 4.62
Operating Lease Payments Due in Year 3 3.24 2.72 4.25 3.18
Operating Lease Payments Due in Year 4 2.49 2.37 1.72 2.15
Operating Lease Payments Due in Year 5 1.32 1.77 1.25 0.26
Operating Lease Payments Due in 2-3 Years 7.44 7.71 9.53 7.80
Operating Lease Payments Due in 4-5 Years 3.81 4.13 2.97 2.41
Standardized Operating Lease Payments Due in Year 6 and Beyond 5.06 4.16 4.29 0.01
Number of Stores Opened 2.00 1.00
Number of Stores, End of Period 4.00 4.00
  Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update) Year Ending Dec 2013 (Reclassified) Year Ending Dec 2012 (Update)
Net Income/Starting Line 17.59 -18.26 5.47 8.13 5.09
Depreciation – Supplemental 15.78 12.22 11.89 11.83 12.50
Depreciation/Depletion 15.78 12.22 11.89 11.83 12.50
Discontinued Operations
Unusual Items 0.04 25.43 --
Other Non-Cash Items 2.31 -8.42 4.20 2.77 4.56
Non-Cash Items 2.35 17.01 4.20 2.77 4.56
Accounts Receivable -17.42 -126.98 -3.55 -6.00 4.10
Inventories -25.56 1.66 66.27 -48.02 10.51
Prepaid Expenses 1.77 -0.63 -1.33 -1.12 -4.04
Other Assets 1.02 0.84 0.86 -3.91 0.32
Accounts Payable 87.70 54.31 -8.58 31.04 -17.65
Accrued Expenses 12.95 6.32 -2.59 2.16 -1.37
Other Liabilities -0.57 1.07 0.64 4.05 -0.45
Changes in Working Capital 59.89 -63.41 51.71 -21.80 -8.58
Cash from Operating Activities 95.62 -52.44 73.26 0.92 13.57
Purchase of Fixed Assets -9.11 -52.68 -26.67 -17.21 -9.45
Capital Expenditures -9.11 -52.68 -26.67 -17.21 -9.45
Acquisition of Business -1.68 -13.57 --
Sale of Fixed Assets --
Other Investing Cash Flow
Other Investing Cash Flow Items, Total -1.68 -13.57 --
Cash from Investing Activities -10.78 -66.24 -26.67 -17.21 -9.45
Other Financing Cash Flow -12.82 -9.47 0.26 -0.87 -0.80
Financing Cash Flow Items -12.82 -9.47 0.26 -0.87 -0.80
Repurchase/Retirement of Common -3.61 -5.85 -2.15 -1.63 -3.91
Common Stock, Net -3.61 -5.85 -2.15 -1.63 -3.91
Options Exercised 2.54 0.91 3.89 2.36 0.60
Issuance (Retirement) of Stock, Net -1.07 -4.95 1.74 0.73 -3.31
Short Term Debt, Net -68.17 126.03 -57.80 19.84 -6.86
Long Term Debt Issued -- 0.21 4.36
Long Term Debt Reduction -2.43 -2.39 -2.63 -2.93 -2.44
Long Term Debt, Net -7.60 -7.08 -5.11 -4.19 0.83
Total Debt Issued 0.53 17.70 13.73 4.60 2.86
Issuance (Retirement) of Debt, Net -75.25 136.65 -49.18 20.25 -3.17
Cash from Financing Activities -89.13 122.23 -47.18 20.10 -7.28
Foreign Exchange Effects 0.29 -1.27 -0.52 -0.36 0.20
Net Change in Cash -4.00 2.28 -1.10 3.46 -2.95
Net Cash - Beginning Balance 11.18 8.89 9.99 6.54 9.48
Net Cash - Ending Balance 7.17 11.18 8.89 9.99 6.54
Cash Interest Paid 5.37 3.62 3.35 3.23 3.31
Cash Taxes Paid 7.33 4.96 6.21 2.97 2.47

In millions of USD (except for per share items)

 

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