CDW Reports Strong Q4, Helped By Government, Health-Care Sales

VAR500 solution provider CDW reported Thursday record revenue for both the fourth quarter of 2011 and its full year.

The Vernon Hills, Ill., based systems integrator reported 2011 net sales of $9.602 billion, up 9.1 percent year-over-year. For the fourth quarter, CDW reported revenue of $2.479 billion, up 9.3 percent from the same quarter last year.

Gross profit for the year was of 1.587 billion, up 14.1 percent year-over-year. For the quarter, gross profit was $413.3 million, up 15.8 percent year-over-year. The company said that average daily sales in 2011 were $37.7 million compared with $34.7 million in 2010 -- an 8.7 percent increase.

Corporate sales led the earnings report for the full year. Total corporate segment net sales in 2011 were $5.334 billion, up 10.4 percent from $4.834 billion in 2010. Sales growth in the corporate segment was driven by strong performance in both the medium/large and small business sales channels.

"Fourth quarter net sales grew by 9.3 percent, the highest quarterly growth rate of the year on an average daily sales basis," CEO Thomas E. Richards said in a statement. "Our Public segment grew 11.8 percent, led by 22.8 percent growth in Government and 14.9 percent growth in Healthcare. Our Corporate segment grew 6.8 percent driven by 8.0 percent growth in the Medium/Large channel."