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CDW
Corporation (NASDAQ: CDWC)
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Nasdaq:
CDWC
NASDAQ
100
CDW®,
ranked No. 343 on the FORTUNE 500, is a leading provider of technology
solutions for business, government and education. CDW is a principal source
of technology products and services including top name brands such as Acer,
Adobe, APC, Apple, Cisco, Fujitsu, HP, IBM, Lenovo, Microsoft, Panasonic,
Quantum, Samsung, Sony, Symantec and ViewSonic. CDW's direct model offers
customers one-on-one relationships with knowledgeable account managers
and access to more than 760 on-staff engineers and advanced technology
specialists who customize solutions for customers’ complex technology needs.
CDW also provides same-day product shipping and post-sales technical support.
CDW
was founded in 1984 and employs approximately 5,480 coworkers. In 2006,
the company generated sales of $6.8 billion. For more information, visit
CDW.com.
CDW's
Average Daily Sales Increase 14.2 Percent in February 2007
VERNON HILLS, Ill. - March
9, 2007 - CDW Corporation (NASDAQ: CDWC), a leading provider of technology
products and services to business, government and education, today announced
average daily sales for February 2007 were $28.018 million, an increase
of 14.2 percent compared to average daily sales of $24.533 million for
February 2006. Total sales for February 2007 were $560.4 million, an increase
of 14.2 percent compared to total sales of $490.7 million for February
2006. There were 20 billing days in both February 2007 and February 2006.
As previously announced,
CDW completed the acquisition of Berbee Information Networks Corporation
on October 11, 2006. February 2006 sales do not include Berbee sales, while
February 2007 sales include Berbee sales. Excluding Berbee sales in February
2007, and therefore on a non-GAAP basis, CDW’s average daily sales for
February 2007 were $26.080 million compared to average daily sales for
February 2006 of $24.533 million and total sales for February 2007 were
$521.6 million compared to total sales of $490.7 million for February 2006,
both representing an increase of 6.3 percent.
In February 2007 average
daily sales for the public sector segment increased 16.8 percent and average
daily sales for the corporate sector segment increased 2.5 percent compared
to the prior year period. While CDW did not own Berbee prior to October
11, 2006, the Company is providing comparative information for Berbee.
Compared to the prior year periods, average daily sales for Berbee increased
26.2 percent in January 2007 and 61.8 percent in February 2007. Compared
to the public sector and corporate sector segments, Berbee’s business model
is more project oriented, which can result in a greater degree of variability
in sales on a monthly basis.
Product categories that achieved
the strongest year-over-year unit volume growth for the month on an average
daily basis included notebook computers, data storage, video and input
devices. Product categories exclude Berbee sales. Compared to the prior
year period, a greater amount of revenue related to the sales of software-related
products was recognized on a net basis compared to a gross basis.
"We are pleased with our
total sales growth in February 2007 and remain confident of our ability
to continue to grow profitably," said John A. Edwardson, chairman and chief
executive officer.
The Company plans to announce
March 2007 sales on Thursday, April 12, 2007 and first quarter earnings
on Tuesday, April 24, 2007. March 2006 had 23 billing days and March 2007
will have 22 billing days.
Forward Looking Statement
Any forward-looking statements
contained in this release are based on the Company's beliefs and expectations
as of the date of this release and are subject to certain risks and uncertainties
which may have a significant impact on the Company's business, operating
results or financial condition. Should any risk or uncertainty materialize,
or should underlying assumptions prove incorrect, actual results or outcomes
may vary materially from those described in forward-looking statements.
Factors affecting the Company's business and prospects are discussed in
the Company's filings with the Securities and Exchange Commission.
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