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E-commerce revenue grew 29.3% in 2010.
PC Connection Inc. is recovering nicely from the recession that put a damper on business and consumer purchases of personal computers and related gear. The proof: a solid increase in annual e-commerce sales and total revenue in 2010.
For the year ended Dec. 31, PC Connection, No. 44 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 29.3% to $605.9 million from $468.6 million in 2009.
- Total sales grew year over year 25.5% to $1.97 billion from $1.57 billion.
- Net income was $22.9 million compared with a net loss of $1.2 million in 2009.
“We executed well this quarter and took advantage of an improving economy,” says CEO Patricia Gallup.
Internet Retailer calculates the web accounted for 30.8% of total sales in 2010 compared with 29.8% in 2009.
PC Connection does not break out quarterly web sales, but in the fourth quarter reported:
- Total sales grew year over year 20% to $555.6 million from $463.1 million in Q4 2009.
- Net income was $6.9 million, up 72.5% from $4.0 million in Q4 2009.
- Average order was $1,810, an increase of 15.1% from $1,572 in Q4 2009.