Reports Q4 revenue $554.5M, consensus $537.83M. “ePlus returned to double digit revenue growth in the quarter to finish out a strong year. For the quarter, technology business revenue grew a healthy 12.6%, and gross billings grew 13.8%, driving consolidated annual revenue growth of 7.6% and gross profit growth of 6.4% to $550.8M. We experienced strong increases in gross billings in networking, cloud and collaboration in the quarter, especially from enterprise customers within our telecom, media and entertainment, and finance end markets,” said CEO Mark Marron. “We are pleased with the 15% increase in our higher margin services, highlighted by a 22% increase in managed services along with a nearly 9% growth in professional services…Along with acquisition expenses, higher tax rate, and lower gross profit on product sales, net earnings in the quarter declined 33% and 3% for the year. We continue to be focused on managing our cost structure and believe we are well positioned to see operating leverage and revenue growth from our investments in the future…Our FY24 sales performance, which outpaced industry growth and most of our peers, demonstrates that our portfolio of products is resonating with our customer base. From a cash perspective, we delivered healthy cash flow, and with more than $250M in cash on-hand, our balance sheet remains strong and gives us tremendous resources to make opportunistic investments in headcount and acquisitions.”
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