Cdw (NASDAQ:CDWC)
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CDW Corporation (NASDAQ:CDWC), a leading provider of technology products
and services to business, government and education, today announced
average daily sales for July 2007 were $32.771 million, an increase of
24.8 percent compared to average daily sales of $26.268 million for July
2006. Total sales for July 2007 were $688.2 million, an increase of 31.0
percent compared to total sales of $525.4 million for July 2006. There
were 21 billing days in July 2007 and 20 billing days in July 2006.
As previously announced, CDW completed the acquisition of Berbee
Information Networks Corporation on October 11, 2006. July 2006 sales do
not include Berbee sales, while July 2007 sales include Berbee sales.
Excluding Berbee sales in July 2007, and therefore on a non-GAAP basis,
CDW’s average daily sales for July 2007 were
$30.604 million, an increase of 16.5 percent compared to average daily
sales for July 2006 of $26.268 million and total sales for July 2007
were $642.7 million, an increase of 22.3 percent compared to total sales
of $525.4 million for July 2006. There were 21 billing days in July 2007
and 20 billing days in July 2006.
In July 2007, average daily sales for the corporate sector segment
increased 13.7 percent and average daily sales for the public sector
segment increased 21.4 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
period, average daily sales for Berbee decreased 17.0 percent in July
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, desktop computers, netcomm products, video and input devices.
Product categories exclude Berbee sales.
The Company plans to announce August 2007 sales on Wednesday, September
12, 2007. August 2006 had 23 billing days and August 2007 will have 23
billing days.
About CDW
CDW®, ranked No. 342 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, EMC,
Fujitsu, HP, IBM, Lenovo, Microsoft, Panasonic, Quantum, Samsung, Sony,
Symantec, ViewSonic and Xerox. CDW's direct model offers customers
one-on-one relationships with knowledgeable account managers and access
to approximately 820 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 as of June 30, 2007, employed approximately
5,880 coworkers. In 2006, the company generated sales of $6.8 billion.
For more information, visit CDW.com.
Forward-Looking Statements
Statements about the expected timing, completion and effects of the
proposed merger between CDW and a subsidiary of VH Holdings, Inc. and
all other statements in this press release other than historical facts,
constitute forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements, each of which is qualified in its entirety
by reference to the following cautionary statements. Forward-looking
statements speak only as of the date hereof and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially from
those projected in the forward-looking statements. CDW may not be able
to complete the proposed merger because of a number of factors,
including, among other things, the failure of financing or the failure
to satisfy the remaining closing conditions. Other risks and
uncertainties that may affect forward-looking statements are described
in the reports filed by CDW with the SEC under the Securities Exchange
Act of 1934, as amended, including without limitation CDW’s
Annual Report on Form 10-K for the year ended December 31, 2006, and the
definitive proxy statement dated July 13, 2007, relating to the special
meeting of shareholders that was held on August 9, 2007.
For more information about CDW:
Visit CDW on the Internet at http://www.cdw.com.
Contact CDW Investor Relations via the Internet at investorrelations@cdw.com
or by telephone at 847-419-6328.
CDW is a registered trademark and CDW@work is a trademark of CDW
Corporation. Other company and product names may be trademarks of their
respective owners.