Stock Alert: Wayside Technology Slips 16%  following Q2 Results

(RTTNews) - Shares of information technology channel company Wayside Technology Group, Inc. (WSTG) are down more than 16% following second-quarter results.

The company reported a profit of $0.6 million or $0.13 per share, down from $1.9 million or $0.41 per share last year, driven by costs related to the N&W settlement and Interwork acquisition. Excluding items, earnings were $0.28 per share down from $0.41 per share in the same quarter a year ago.

Net sales in the second quarter of 2020 increased 12% to $56.6 million from $50.7 million for the same period in 2019.

On August 4, Wayside's board of directors declared a quarterly dividend of $0.17 per share payable on August 28 to shareholders of record on August 24.

Wayside Technology stock is currently trading at $21.83. It has traded in the range of $9.52- $26.44 in the past 52 weeks.