HERNDON, Va., April 16, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS) (news) announced today that it has attained Amazon Web Services (AWS) Migration Competency status. This designation recognizes that ePlus has demonstrated expertise in helping customers accelerate their cloud migration and modernization journey to AWS with an outcome-driven methodology. Achieving AWS Migration Competency status differentiates ePlus as an AWS Partner Network (APN) member that provides specialized consulting services d ...

HERNDON, Va., March 18, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has earned places on both the CRN MSP 500 List, in the Elite 150 category, and the CRN Tech Elite 250 List. The MSP 500 is an annual list that recognizes North American Managed Service Providers and managed security service providers that have proven track records of innovation and growth. MSP 500 Elite 150 companies have an extensive managed services portfolio, including on-premises and off-premises ca ...

HERNDON, Va., March 5, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has been named F5's North America 2023 Strategic Solutions Partner of the Year. ePlus was selected because of its work to modernize legacy apps and update customer infrastructure, thereby driving numerous accomplishments with organizations across the SLED, enterprise, telecom, financial services, and healthcare industries. The F5 and ePlus partnership delivers application security, performance, and autom ...

Shares of enterprise IT company ePlus (PLUS -13.00%) fell as much as 28% in trading on Wednesday after reporting earnings for the fiscal third quarter of 2024. Shares closed the day down 13%.From bad to worseQuarterly sales fell 18.4% to $509.1 million, and technology gross billings fell 11.3% to $797 million. Gross profit fell 3.3% to $133.8 million as margins improved from 22.2% a year ago to 26.3%. Net income was down 23.6% to $27.3 million, and earnings per share fell a similar amount to $1.02. On a non ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q3 were $509.1 million, down from $623.5 million in the prior year, reflecting an 18% decline [62] - Consolidated net earnings decreased to $27.3 million or $1.2 per diluted share, compared to $35.7 million or $1.34 per diluted share last year [24] - Adjusted EBITDA decreased to $46.2 million from $53.3 million in the prior year, primarily due to a 23.3% decline in the technology business [24][44] - Year-to-date operating cash flows were $143.5 million, compared to $147 million of cash used in the same period last year [25] Business Line Data and Key Metrics Changes - Technology business net sales were $494.2 million, down from $611.8 million in the previous year, attributed to lower product sales [62] - Service revenue grew 10.7% to $74.7 million, driven by double-digit growth in managed services [62] - Managed services gross margin improved by 330 basis points to 31.8%, while professional services gross margin grew by 420 basis points to 43.3% [49] Market Data and Key Metrics Changes - SLED, healthcare, and financial services accounted for 16%, 13%, and 10% of technology business net sales, respectively [10] - The two largest verticals in the technology business were telecom media and entertainment and technology, representing 24% and 17% of net sales [48] Company Strategy and Development Direction - The company is focusing on AI capabilities, including consulting, managed services, and training, to help customers implement complex AI architectures [60] - Acquisitions remain a key element of the growth strategy, with the recent acquisition of PEAK Resources aimed at expanding geographical presence and enhancing offerings [8] - The company is targeting higher-growth market segments like cloud, networking, collaboration, and security [66] Management's Comments on Operating Environment and Future Outlook - Management noted that while sales cycles have lengthened, the decline in sales is not viewed as a trend, and annual guidance remains unchanged [6] - The company expects Q4 results to improve sequentially from Q3, driven by positive customer sentiment and a re-acceleration of growth in the technology business [26] - Despite ongoing economic uncertainty, the company remains confident in its market position and growth strategy [52] Other Important Information - Consolidated operating expenses increased by 4.2% year-over-year, reflecting higher salary and benefits costs due to increased headcount [11] - The company ended the quarter with cash and cash equivalents of $142 million, the highest level in the past seven quarters [61] Q&A Session Summary Question: What influenced the quarter's performance? - Management indicated that the performance was influenced by timing of deals, with some enterprise deals pushed from Q3 into Q4, and noted an uptick in activity in January [15][81] Question: Is supply chain an issue? - Management clarified that they do not face the same supply chain issues as competitors like Cisco, and have seen open orders decrease regularly [20][77] Question: What is the impact of the recent acquisition? - The acquisition of PEAK Resources is expected to provide a platform for growth in the Mountain West region, although its immediate revenue contribution is considered immaterial [91] Question: How is the company positioned for AI growth? - Management emphasized that AI represents a promising long-term growth opportunity, with investments in AI optimized solutions and infrastructure already in place [45][96]

EPlus (PLUS) came out with quarterly earnings of $1.18 per share, missing the Zacks Consensus Estimate of $1.38 per share. This compares to earnings of $1.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.49%. A quarter ago, it was expected that this computer products reseller would post earnings of $1.34 per share when it actually produced earnings of $1.40, delivering a surprise of 4.48%.Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____ to ____. Commission file number: 1-34167 ePlus inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organi ...

Provides support throughout the AI journey to assess and build infrastructures that provide scalable processing performance, data management, and security HERNDON, Va., Feb. 1, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS) (news) today announced the availability of AI Ignite, a comprehensive suite of AI Solutions and Services designed to help organizations at any stage of their AI Journey to assess, enable, secure, implement and amplify the use of AI technologies. Whether an organization is AI Curious, ...

Acquisition of data center focused solutions provider strengthens ePlus' market presence in Mountain West HERNDON, Va., Jan. 29, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has acquired certain assets of PEAK Resources, Inc. (PEAK). Based in Denver, CO, one of the fastest growing metro areas in the U.S., PEAK has built a reputation as one of the top IT Solution Providers in the region. PEAK's customer-centric approach focuses on delivering professional services, data ce ...

Company will participate in AI, Cybersecurity and SEC/corporate governance priorities HERNDON, Va., Jan. 17, 2024 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced its membership in the U.S. Chamber of Commerce as well as its participation in the Chamber's AI, Cybersecurity and SEC/corporate governance priorities. The U.S. Chamber of Commerce is the world's largest business organization representing companies of all sizes across every sector of the economy. Its members range from small bu ...