CDW sales up 23% in first quarter
LINCOLNSHIRE -- CDW Corp. Wednesday reported net sales in its fiscal year first quarter were $5.9 billion, compared to $4.8 billion for the first quarter of 2021, an increase of 23%.
Gross profit in the first quarter was $1.1 billion, compared to $795 million in the prior year quarter, representing an increase of 39%.
CDW also announced the approval by its board of directors of a quarterly cash dividend of 50 cents per share to be paid on June 10 to all stockholders of record as of the close of business on May 25.
"We delivered record Net sales and excellent profitability, reinforcing confidence in our strategy for growth," said Christine A. Leahy, president and chief executive officer. "Our first quarter results once again highlight the strength of our business model and the combined power of our diverse customer end markets and broad product and solutions portfolio."
CDW provides multiple brands of computers and information technology solutions to business, government, education and health care customers in the U.S., the United Kingdom and Canada.