Insight Enterprises, Inc. (NASDAQ:NSIT) is a leading provider of brand-name information technology (”IT”) hardware, software and services to large enterprises, small- to medium-sized businesses and public sector institutions in North America, Europe, the Middle East, Africa and Asia-Pacific.
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2010 Full Year Highlights
* Net sales increased 16% to $4.8 billion.
* Gross profit increased 14% to $646.1 million.
* Earnings from operations increased 135% to $124.1 million, or 2.6% of net sales.
* Net earnings from continuing operations increased 145% to $75.5 million.
* Diluted earnings per share from continuing operations increased 140% to $1.61.
NSIT previously reported results of operations for the quarter and year ended December 31, 2010. In North America, net sales were $915.2 million for the fourth quarter of 2010, up 17% from the fourth quarter of 2009. Net sales of hardware and software increased 21% and 16%, respectively, year over year, while net sales in the services category declined 10% year to year. Gross profit was up 9% year over year at $113.0 million, with gross margin declining 100 basis points to 12.3% for the fourth quarter of 2010 from 13.3% in the prior year quarter. Gross profit and margin during the fourth quarter of 2010 benefited from the elimination of approximately $3.8 million of certain trade credit liabilities through negotiated settlement or other legal release of the recorded liabilities. Comparatively, gross profit and margin in the fourth quarter of 2009 benefited from approximately $1.6 million related to the elimination of trade credits.
“The technology refresh cycle provided a nice tailwind for our business in 2010, and I believe our team executed very well to ensure we participated in the market recovery and even grew share in certain categories,” stated Ken Lamneck, President and Chief Executive Officer. “As I look back on my first year as CEO of Insight, I am proud of the team that we have built and the progress we have made to position our company for the future,” he added.
For more information about this company please visit http://www.insight.com
GreenHouse Holdings, Inc. (GRHU.OB) is a leading provider of energy efficiency solutions and sustainable infrastructure products. The company designs, engineers and installs disparate products and technologies that produce persistent technical and financial results, by enabling their clients to monitor and control their energy costs in the most efficient manner possible.
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GreenHouse Holdings, Inc. and ten tequila distilleries, members of the largest and most profitable export industry in Mexico, announced that they are becoming more energy efficient and environmentally sustainable as mandated by recently enacted regulations. The distilleries have entered into agreements with GreenHouse Soluciones, a wholly-owned subsidiary of Southern California-based Greenhouse Holdings, Inc., a leading provider of energy efficiency and sustainable infrastructure. The agreements are expected to generate over $8 million in revenues for GreenHouse in 2011.
GreenHouse will remove approximately 600 tons of solid agave waste per day from its initial ten Tequila customers, which represents approximately 33% of the total agave waste from the area. The Company estimates it will receive approximately $1.7 million annually in revenues based on the initial ten customers. In addition, GreenHouse plans to convert the waste to compost and sell fertilizer to local farmers which can in turn be used to protect the soil of the region. The company estimates they will be able to produce approximately 120,000 tons of compost fertilizer per year, which equates to approximately $6.5 million in additional revenues for GreenHouse.
“Within the Tequila industry, there are significant opportunities to boost the local economy through job development and the improvement of the environment while increasing the quality of the Tequila,” said Congressman Gustavo Macias Zambrano. “I encourage the collaboration between GreenHouse and these agencies to develop a long-term, sustainable plan for the region.”
Also, GRHU has been engaged to implement Southern California Edison’s (SCE) Automated Demand Response (Auto-DR) program for three commercial/industrial customers. The customers include the PepsiCo® Carson bottling facility, Sigma Plating and CRP MB Studio, LLC. GreenHouse estimates that the projects will generate $500,000 in revenue to the company. “Participants in SCE’s Auto-DR program are in 100% control of the actual curtailment measures implemented on an event-to-event basis. By utilizing an Auto-DR system, participants will have real-time usage information and the technical means to reduce electric consumption during costly peak energy periods when the demand is highest,” stated Robert Davis, Vice President of Energy Services at GreenHouse.
In addition, GreenHouse Holdings, Inc. has been engaged to implement Southern California Edison’s (SCE) Automated Demand Response (Auto-DR) program for two industrial customers. The customers include Apogee Containers, Inc. and MGE UPS, LLC. GreenHouse estimates that the projects will generate $400,000 in revenue for GreenHouse, based upon approximately 1,300 kW or 1.3 MW of electricity demand reduction and infrastructure improvements from the engagements.
GreenHouse target markets for energy efficiency solutions include residential, commercial and industrial, as well as government and military markets. In addition, the company develops, designs and constructs rapidly deployable, sustainable infrastructure primarily for use in disaster relief and security in austere regions.
For more information about this company please visit http://www.greenhouseintl.com/
Drugstore.com Inc. (NASDAQ:DSCM) announced its financial results for the fourth quarter and fiscal year ended January 2, 2011. In the fourth quarter of 2010, drugstore.com’s quarterly net sales increased to $123.6 million, up 23%1 on an adjusted growth rate from $108.6 million in the prior year period. The Company reported a net loss of $663,000 and a net loss per share of $0.01. This is an improvement from a net loss of $1.6 million and a net loss per share of $0.02 reported in the same period of the prior year. The Company reported $5.0 million of adjusted EBITDA and $4.2 million of ongoing adjusted EBITDA in the fourth quarter of 2010, as compared to $3.5 million of adjusted EBITDA and $4.2 million of ongoing adjusted EBITDA for the same period of the prior year. Adjusted EBITDA is a non-GAAP financial measure defined as earnings before interest, taxes, depreciation, and amortization of intangible assets, adjusted to exclude the impact of stock-based compensation expense. Ongoing adjusted EBITDA, also a non-GAAP financial measure, is defined as adjusted EBITDA excluding the impact of expenses or income from discontinued operations, certain legal actions, settlements and related costs outside our normal course of business, restructuring and severance costs, impairment charges, and certain other one-time charges and credits each of which is specifically identified.
drugstore.com, inc. operates as an online provider of health, beauty, vision, and pharmacy products. The company operates in three segments: Over-The-Counter (OTC), Vision, and Mail-Order Pharmacy.
ADDvantage Technologies Group Inc. (NASDAQ:AEY) reported its results for the three month period ended December 31, 2010. Revenue for the three month period ended December 31, 2010 was $9.2 million compared to $10.2 million in the same period a year ago. Sales of new equipment were $6.5 million for the three months ended December 30, 2010 as compared to $6.6 million for the three months ended December 31, 2009. Net refurbished equipment sales were $1.4 million for the three months ended December 31, 2010 as compared to $2.3 million for the same period last year. The decrease in refurbished equipment sales was primarily due to a decrease in sales of digital converter boxes of $0.6 million. Service revenue was $1.3 million for the three months ended December 31, 2010 as compared to $1.4 million for the same period last year. This decline was primarily attributable to the closure of the Tulsat-West facility in the fiscal first quarter of 2011.
ADDvantage Technologies Group, Inc., through its subsidiaries, distributes cable television equipment and hardware to the cable television industry in North America, Central America, and South America.
8×8, Inc. (NASDAQ:EGHT) announced that Kim Niederman has been named to the position of Senior Vice President of Sales, effective immediately. In this role, Mr. Niederman will oversee 8×8’s worldwide sales operations. Mr. Niederman is an experienced senior executive with successful leadership track records at both public and private companies, including Cisco Systems, Wang Laboratories, Polycom, FORE Systems and LongBoard. Mr. Niederman most recently served as Senior Vice President of NComputing, Inc. and as President and CEO of Anagran, Inc.
8×8, Inc. develops and markets telecommunications services for Internet protocol (IP), telephony, and video applications, as well as provides Web-based conferencing and unified communications services.
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