Insight Misses 4Q Expectations

Fourth quarter earnings compared to earnings of $31 million, or 62 cents per diluted share, in the year-ago quarter. Sales increased 3.4 percent to $832.9 million, compared to $805.7 million in the year-ago quarter.

Insight North America sales increased 3.8 percent to $702.4 million. Insight U.K. sales fell 0.6 percent to $109.7 million and its Direct Alliance business increased 10.4 percent to $20.8 million.

Shares of Insight closed Thursday at $21.47, up 6 cents on Thursday.

Insight also announced that its board had authorized the company to purchase up to $50 million in stock.