<p>Pc Connection 最近的财报电话会议描绘了一个复杂的局面，创纪录的毛利润和在商业解决方案、零售和金融服务等关键领域的强劲表现。然而，公共部门解决方案的下降、净收入减少以及销售和管理费用增加等挑战，尤其是联邦政府停摆的影响，也被强调。</p>
<h2>创纪录的毛利润和利润率扩张</h2>
<p>Pc Connection 报告称，创纪录的毛利润为 1.386 亿美元，同比增长 2.4%。公司实现了 19.6% 的毛利率，提升了 90 个基点，得益于云软件、网络安全和服务的强劲增长。</p>
<h2>商业解决方案的强劲表现</h2>
<p>商业解决方案部门的净销售额增长了 1.7%，达到 2.568 亿美元，毛利润上升 7.8%，达到 6800 万美元。该部门的毛利率达到了创纪录的 26.5%，比去年提高了 150 个基点。</p>
<h2>零售和金融服务的显著增长</h2>
<p>零售和金融服务部门表现出令人印象深刻的增长，零售净销售额同比增长 25%，毛利润增长 42%。金融服务的净销售额增长了 23%，毛利润同比增长 19%。</p>
<h2>强劲的流动性状况</h2>
<p>公司在本季度结束时保持了强劲的流动性，持有 3.992 亿美元的现金、现金等价物和短期投资。这为战略优先事项和股东回报提供了充足的灵活性。</p>
<h2>公共部门解决方案的下降</h2>
<p>公共部门解决方案的净销售额下降了 24.3%，降至 1.325 亿美元，主要归因于联邦项目的时机和各级政府的资金减少。</p>
<h2>净收入下降</h2>
<p>Pc Connection 第三季度的净收入下降了 8.6%，降至 2470 万美元，稀释后每股收益下降 0.05 美元，降至 0.97 美元，较去年同期有所减少。</p>
<h2>销售和管理费用增加</h2>
<p>销售和管理费用同比上升 2.9%，主要是由于人员相关成本的增加。作为销售的百分比，销售和管理费用增加了 80 个基点，达到净销售额的 15.3%。</p>
<h2>联邦政府停摆的影响</h2>
<p>联邦政府的停摆给公共部门带来了额外挑战，影响了订单发货，并可能影响第四季度的业绩。</p>
<h2>前瞻性指导</h2>
<p>尽管总净销售额下降了 2.2%，降至 7.091 亿美元，Pc Connection 对未来的增长仍持乐观态度，得益于强劲的订单积压和在人工智能、数据中心现代化以及云和网络安全解决方案方面的客户参与。公司预计这些领域将推动未来的增长，尽管当前面临挑战。</p>
<p>总之，Pc Connection 的财报电话会议反映了强劲成就与显著挑战的结合。尽管公司庆祝创纪录的毛利润和多个部门的增长，但也承认公共部门销售下降和费用增加带来的障碍。展望未来，Pc Connection 对其增长前景充满信心，依靠战略投资和在关键技术领域的客户参与。</p>

CNXN

<p>Pc Connection 报告称，毛利润创下 1.386 亿美元的纪录，同比增长 2.4%，在商业解决方案、零售和金融服务方面表现强劲。然而，净收入下降 8.6%，降至 2470 万美元，公共部门解决方案的净销售额下降 24.3%。销售和管理费用上升 2.9%。尽管面临挑战，公司对未来增长仍持乐观态度，特别是在人工智能和云解决方案方面，得益于 3.992 亿美元的强大流动性</p>

<p>Pc Connection’s latest earnings call painted a mixed picture, with record gross profit and strong performances in key segments like Business Solutions, Retail, and Financial Services. However, challenges such as a decline in Public Sector Solutions, reduced net income, and increased SG&amp;A expenses, compounded by the federal government shutdown, were also highlighted.</p>
<div class="lb-trans"><p>Pc Connection 最近的财报电话会议描绘了一个复杂的局面，创纪录的毛利润和在商业解决方案、零售和金融服务等关键领域的强劲表现。然而，公共部门解决方案的下降、净收入减少以及销售和管理费用增加等挑战，尤其是联邦政府停摆的影响，也被强调。</p>
</div><h2>Record Gross Profit and Margin Expansion</h2>
<div class="lb-trans"><h2>创纪录的毛利润和利润率扩张</h2>
</div><p>Pc Connection reported a record gross profit of $138.6 million, marking a 2.4% year-over-year increase. The company achieved a gross margin of 19.6%, up 90 basis points, driven by robust growth in cloud software, cybersecurity, and services.</p>
<div class="lb-trans"><p>Pc Connection 报告称，创纪录的毛利润为 1.386 亿美元，同比增长 2.4%。公司实现了 19.6% 的毛利率，提升了 90 个基点，得益于云软件、网络安全和服务的强劲增长。</p>
</div><h2>Strong Performance in Business Solutions</h2>
<div class="lb-trans"><h2>商业解决方案的强劲表现</h2>
</div><p>The Business Solutions segment experienced a 1.7% increase in net sales to $256.8 million, with gross profit rising 7.8% to $68 million. This segment’s gross margin reached a record 26.5%, up 150 basis points from the previous year.</p>
<div class="lb-trans"><p>商业解决方案部门的净销售额增长了 1.7%，达到 2.568 亿美元，毛利润上升 7.8%，达到 6800 万美元。该部门的毛利率达到了创纪录的 26.5%，比去年提高了 150 个基点。</p>
</div><h2>Significant Growth in Retail and Financial Services</h2>
<div class="lb-trans"><h2>零售和金融服务的显著增长</h2>
</div><p>Retail and Financial Services segments demonstrated impressive growth, with Retail net sales increasing by 25% and gross profit up by 42% year-over-year. Financial Services saw net sales rise by 23% and gross profit increase by 19% year-over-year.</p>
<div class="lb-trans"><p>零售和金融服务部门表现出令人印象深刻的增长，零售净销售额同比增长 25%，毛利润增长 42%。金融服务的净销售额增长了 23%，毛利润同比增长 19%。</p>
</div><h2>Strong Liquidity Position</h2>
<div class="lb-trans"><h2>强劲的流动性状况</h2>
</div><p>The company ended the quarter with a strong liquidity position, holding $399.2 million in cash, cash equivalents, and short-term investments. This provides ample flexibility for strategic priorities and shareholder returns.</p>
<div class="lb-trans"><p>公司在本季度结束时保持了强劲的流动性，持有 3.992 亿美元的现金、现金等价物和短期投资。这为战略优先事项和股东回报提供了充足的灵活性。</p>
</div><h2>Decline in Public Sector Solutions</h2>
<div class="lb-trans"><h2>公共部门解决方案的下降</h2>
</div><p>Net sales in the Public Sector Solutions segment fell by 24.3% to $132.5 million, attributed to the timing of federal projects and reduced funding at various government levels.</p>
<div class="lb-trans"><p>公共部门解决方案的净销售额下降了 24.3%，降至 1.325 亿美元，主要归因于联邦项目的时机和各级政府的资金减少。</p>
</div><h2>Net Income Decline</h2>
<div class="lb-trans"><h2>净收入下降</h2>
</div><p>Pc Connection’s net income for the third quarter decreased by 8.6% to $24.7 million, with diluted earnings per share down $0.05 to $0.97 compared to the previous year.</p>
<div class="lb-trans"><p>Pc Connection 第三季度的净收入下降了 8.6%，降至 2470 万美元，稀释后每股收益下降 0.05 美元，降至 0.97 美元，较去年同期有所减少。</p>
</div><h2>Higher SG&amp;A Expenses</h2>
<div class="lb-trans"><h2>销售和管理费用增加</h2>
</div><p>SG&amp;A expenses rose by 2.9% year-over-year, driven by increased personnel-related costs. As a percentage of sales, SG&amp;A expenses increased by 80 basis points to 15.3% of net sales.</p>
<div class="lb-trans"><p>销售和管理费用同比上升 2.9%，主要是由于人员相关成本的增加。作为销售的百分比，销售和管理费用增加了 80 个基点，达到净销售额的 15.3%。</p>
</div><h2>Impact of Federal Government Shutdown</h2>
<div class="lb-trans"><h2>联邦政府停摆的影响</h2>
</div><p>The federal government shutdown posed additional challenges for the Public Sector, affecting order shipments and potentially impacting fourth-quarter results.</p>
<div class="lb-trans"><p>联邦政府的停摆给公共部门带来了额外挑战，影响了订单发货，并可能影响第四季度的业绩。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Despite a 2.2% decline in total net sales to $709.1 million, Pc Connection remains optimistic about future growth, supported by a robust backlog and strong customer engagement in AI, data center modernization, and cloud and cybersecurity solutions. The company expects these areas to drive future growth, despite the current challenges.</p>
<div class="lb-trans"><p>尽管总净销售额下降了 2.2%，降至 7.091 亿美元，Pc Connection 对未来的增长仍持乐观态度，得益于强劲的订单积压和在人工智能、数据中心现代化以及云和网络安全解决方案方面的客户参与。公司预计这些领域将推动未来的增长，尽管当前面临挑战。</p>
</div><p>In conclusion, Pc Connection’s earnings call reflected a blend of strong achievements and notable challenges. While the company celebrated record gross profits and growth in several segments, it also acknowledged the hurdles posed by declining public sector sales and increased expenses. Looking ahead, Pc Connection remains confident in its growth prospects, driven by strategic investments and customer engagement in key technological areas.</p>
<div class="lb-trans"><p>总之，Pc Connection 的财报电话会议反映了强劲成就与显著挑战的结合。尽管公司庆祝创纪录的毛利润和多个部门的增长，但也承认公共部门销售下降和费用增加带来的障碍。展望未来，Pc Connection 对其增长前景充满信心，依靠战略投资和在关键技术领域的客户参与。</p>
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PC Connection 的财报电话会议：在挑战中实现创纪录的利润