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CDW's Average Daily Sales Increase 29 Percent In May 2004
VERNON HILLS, Ill. - June 14, 2004 - CDW Corporation (Nasdaq: CDWC), a leading provider of technology products and services to business, government and education, today announced average daily sales for May 2004 were $21.7 million, an increase of 29.2 percent compared to average daily sales of $16.8 million for May 2003. May 2004 had 20 billing days and May 2003 had 21 billing days. Total sales for May 2004 were $433.9 million, an increase of 22.6 percent versus sales of $353.8 million for May 2003.
Strong double-digit growth was generated by both the corporate and public sector segments in May 2004. In addition, double-digit unit volume growth was achieved in most product categories. Notebook CPUs, desktop CPUs, server CPUs, printers, input devices and data storage unit volumes increased more than 20 percent for the month on a year-over-year basis.
May 2003 sales included a software license sale of approximately $12 million to a single public sector customer that did not repeat in May 2004. Excluding this sale, and therefore on a non-GAAP basis, average daily sales for May 2004 would have increased approximately 33 percent compared to May 2003.
"Our May results reflect the continued success of our coworkers in providing unparalleled service, advice and technology solutions to customers," said John A. Edwardson, chairman and chief executive officer. "We remain focused on taking market share from competitors and growing the business at market plus ten percent."
The Company plans to announce June 2004 sales and second quarter earnings on Tuesday, July 20, 2004. June 2003 had 21 billing days and June 2004 will have 22 billing days.
Forward Looking Statement
Any forward-looking statements contained in this release are based on the Company's beliefs and expectations as of the date of this release and are subject to certain risks and uncertainties which may have a significant impact on the Company's business, operating results or financial condition. Should any risk or uncertainty materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described in forward-looking statements. Factors affecting the Company's business and prospects are discussed in the Company's filings with the Securities and Exchange Commission.
About CDW
CDW® (Nasdaq: CDWC), ranked No. 376 on the FORTUNE 500, is a leading provider of technology products and services for business, government and education. CDW is a principal source of technology from top name brands such as APC, Apple, Cisco, HP, IBM, Microsoft, Sony, Symantec, Toshiba and ViewSonic. CDW distributes contracts to end users for customized and standardized on-site services supplied directly by providers such as HP Services and Unisys and for training programs provided by firms such as KnowledgeNet and Productivity Point International.
CDW was founded in 1984 as a home-based business and today employs approximately 3,700 coworkers. In 2003, the company generated net sales of approximately $4.7 billion. CDW's direct model offers one-on-one relationships with knowledgeable account managers; purchasing by telephone, fax, the company's award-winning CDW.com Web site, customized CDW@work™ extranets, CDWG.com Web site and macwarehouse.com Web site; custom configured solutions and same day shipping; and pre- and post-sales technical support, with more than 100 factory-trained and A+ certified technicians on staff.
Additional information can be found by visiting CDW.com.
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