CDW Q4 Earnings Down

(RTTNews) - CDW Corp. (CDW) Tuesday reported that its net profit for the fourth quarter slid to $51.8 million from $60.0 million, and earnings per share declined to 30 cents from 35 cents last year.

For the quarter, adjusted earnings per share was 59 cents, whereas 11 analysts polled by Thomson Reuters had expected earnings of 54 cents per share. Analysts' estimates typically exclude special items.

The company said its adjusted results excluded acquisition-related intangible asset amortization, certain debt refinancing expenses and certain other costs.

Total net sales in the quarter rose more than 12 percent to $3.050 billion. Analysts had expected sales of $2.96 billion for the quarter.

Average daily sales were $48.4 million, compared to $43.1 million last year. There were 63 selling days in both the fourth quarters of 2014 and 2013, the company reported.

In a separate communique, CDW said its board declared a quarterly cash dividend of $0.0675 per share, payable on March 10, 2015 to all shareholders of record on February 25, 2015.