10-Q Filing

PC CONNECTION INC CIK: 1050377 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-219500`
Period End Date	20110630
Filing Date	20110811
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	pccc-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 56 Cash Flow Statement 62 Stockholders Equity 14

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.37M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$238.01M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$241.04M	USD	Point-in-time
Inventories	`InventoryNet`	$75.43M	USD	Point-in-time
Inventories	`InventoryNet`	$74.29M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.35M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.81M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.21M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.54M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$357.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$382.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.56M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.50M	USD	Point-in-time
Goodwill	`Goodwill`	$51.28M	USD	Point-in-time
Goodwill	`Goodwill`	$48.06M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$5.57M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$1.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$598.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$405.00K	USD	Point-in-time
Total Assets	`Assets`	$420.94M	USD	Point-in-time
Total Assets	`Assets`	$460.77M	USD	Point-in-time
Current maturities of capital lease obligation to affiliate	`CapitalLeaseObligationsCurrent`	$870.00K	USD	Point-in-time
Current maturities of capital lease obligation to affiliate	`CapitalLeaseObligationsCurrent`	$919.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$114.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.35M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$30.27M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$23.96M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$12.65M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$11.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$152.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$178.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.44M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.82M	USD	Point-in-time
Capital lease obligation to affiliate, less current maturities	`CapitalLeaseObligationsNoncurrent`	$1.49M	USD	Point-in-time
Capital lease obligation to affiliate, less current maturities	`CapitalLeaseObligationsNoncurrent`	$1.96M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.58M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.40M	USD	Point-in-time
Total Liabilities	`Liabilities`	$163.30M	USD	Point-in-time
Total Liabilities	`Liabilities`	$191.94M	USD	Point-in-time
Common stock	`CommonStockValue`	$275.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$275.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$99.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$98.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$164.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$176.05M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$5.58M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$6.93M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$268.83M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$257.64M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$420.94M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$460.77M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$512.56M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$477.55M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$974.49M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$885.81M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$781.17M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$848.77M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$421.56M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$445.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$104.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$66.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$55.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$125.71M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$54.48M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$91.97M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$105.77M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$12.42M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.66M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$19.95M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$8.48M	USD	1 Quarter
Interest expense	`InterestExpense`	$194.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$128.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$95.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$87.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$97.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$32.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$110.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$35.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.42M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.91M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.36M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.57M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$4.88M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$3.40M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.12M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$7.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.97M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.46M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.48M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.45	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.27	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.27	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.44	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27,116.00	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27,136.00	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26,877.00	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26,852.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27,156.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27,175.00	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26,923.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26,959.00	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.97M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.46M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.89M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.89M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.18M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.12M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$352.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.08M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$743.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$441.00K	USD	2 Qtrs
Fair value adjustment to contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability`	$20.00K	USD	2 Qtrs
Income tax deficiency from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$78.00K	USD	2 Qtrs
Income tax deficiency from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$6.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$884.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.25M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-148.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$845.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$831.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$680.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-124.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$165.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.65M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.93M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-962.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.96M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.35M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.88M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.12M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.38M	USD	2 Qtrs
Acquisition of ValCom Technology, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.75M	USD	2 Qtrs
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	$450.00K	USD	2 Qtrs
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	$800.00K	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.31M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.18M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$1.40M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$1.53M	USD	2 Qtrs
Repayment of capital lease obligation to affiliate	`RepaymentsOfLongTermCapitalLeaseObligations`	$423.00K	USD	2 Qtrs
Repayment of capital lease obligation to affiliate	`RepaymentsOfLongTermCapitalLeaseObligations`	$379.00K	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$183.00K	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$135.00K	USD	2 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$131.00K	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.64M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.64M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.92M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.52M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.82M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.29M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.30M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.82M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.29M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$46.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.37M	USD	Point-in-time
Contingent consideration included in accrued expenses and other liabilities	`ContingentConsiderationIncludedInAccruedExpensesAndOtherLiabilities`	$1.90M	USD	2 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$126.00K	USD	2 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$454.00K	USD	2 Qtrs
Issuance of nonvested stock from treasury	`IssuanceOfNonvestedStockFromTreasury`	$183.00K	USD	2 Qtrs
Issuance of nonvested stock from treasury	`IssuanceOfNonvestedStockFromTreasury`	$368.00K	USD	2 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance, value	`StockholdersEquity`	$268.83M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$257.64M	USD	Point-in-time
Stock-based compensation expense	`ShareBasedCompensation`	$743.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$441.00K	USD	2 Qtrs
Issuance of common stock under Employee Stock Purchase Plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$183.00K	USD	2 Qtrs
Tax shortfall from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$6.00K	USD	2 Qtrs
Repurchase of common stock for treasury	`TreasuryStockValueAcquiredCostMethod`	$1.53M	USD	2 Qtrs
Issuance of common stock under stock incentive plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$131.00K	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$5.02M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$11.97M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$7.46M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$7.48M	USD	1 Quarter
Balance, value	`StockholdersEquity`	$268.83M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$257.64M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.