10-Q Filing

PC CONNECTION INC CIK: 1050377 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-343972`
Period End Date	20120630
Filing Date	20120808
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	pccc-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 57 Cash Flow Statement 72

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$63.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.37M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$253.73M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$295.19M	USD	Point-in-time
Inventories	`InventoryNet`	$74.92M	USD	Point-in-time
Inventories	`InventoryNet`	$77.44M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.71M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$3.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$4.44M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.48M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$388.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$402.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.57M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.90M	USD	Point-in-time
Goodwill	`Goodwill`	$51.28M	USD	Point-in-time
Goodwill	`Goodwill`	$51.28M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$5.21M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$4.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$652.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$708.00K	USD	Point-in-time
Total Assets	`Assets`	$484.19M	USD	Point-in-time
Total Assets	`Assets`	$468.02M	USD	Point-in-time
Current maturities of capital lease obligation to affiliate	`CapitalLeaseObligationsCurrent`	$971.00K	USD	Point-in-time
Current maturities of capital lease obligation to affiliate	`CapitalLeaseObligationsCurrent`	$1.03M	USD	Point-in-time
Borrowings under bank line of credit	`LinesOfCreditCurrent`	$5.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$138.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$130.90M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$30.90M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$31.22M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$12.96M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$12.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$181.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$183.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.03M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.02M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.47M	USD	Point-in-time
Capital lease obligation to affiliate, less current maturities	`CapitalLeaseObligationsNoncurrent`	$462.00K	USD	Point-in-time
Capital lease obligation to affiliate, less current maturities	`CapitalLeaseObligationsNoncurrent`	$989.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$194.49M	USD	Point-in-time
Total Liabilities	`Liabilities`	$196.45M	USD	Point-in-time
Common stock	`CommonStockValue`	$276.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$277.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$99.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$100.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$182.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$196.57M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$9.83M	USD	Point-in-time
Treasury stock at cost	`TreasuryStockValue`	$8.98M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$273.53M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$287.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$484.19M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$468.02M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.04B	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$974.49M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$512.56M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$542.57M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$903.15M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$471.00M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$848.77M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$445.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$138.18M	USD	2 Qtrs
Gross profit	`GrossProfit`	$71.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$66.89M	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`	$113.35M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$56.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$105.77M	USD	2 Qtrs
Special charges	`OtherNonrecurringExpense`	$1.14M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$19.95M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$23.69M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.67M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$12.42M	USD	1 Quarter
Interest expense	`InterestExpense`	$87.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$64.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$128.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$64.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$32.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$17.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$97.00K	USD	2 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-29.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.36M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.91M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.65M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.57M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.75M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$4.88M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$9.35M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$7.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$14.30M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.97M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.45	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.54	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.54	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.44	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.40M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.85M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.42M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.88M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.96M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.52M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.92M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.55M	shares	2 Qtrs

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.30M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.97M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.18M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.89M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.62M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.12M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$690.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.89M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.08M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.22M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$441.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.00K	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-85.00K	USD	2 Qtrs
Income tax benefit (deficiency) from stock-based compensation	`TaxBenefitFromStockOptionsExercised1`	$41.00K	USD	2 Qtrs
Income tax benefit (deficiency) from stock-based compensation	`TaxBenefitFromStockOptionsExercised1`	$-6.00K	USD	2 Qtrs
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$5.00K	USD	2 Qtrs
Fair value adjustment to contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability`	$20.00K	USD	2 Qtrs
Fair value adjustment to contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability`	$30.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.76M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$884.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$845.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-2.52M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$494.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$680.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$165.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$56.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.93M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.38M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$541.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-962.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$72.03M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.88M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.18M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.12M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	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
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.18M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.31M	USD	2 Qtrs
Repayment of short-term borrowings	`RepaymentsOfShortTermDebt`	$12.47M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$7.20M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$1.47M	USD	2 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$1.53M	USD	2 Qtrs
Payment of contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$960.00K	USD	2 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$308.00K	USD	2 Qtrs
Repayment of capital lease obligation to affiliate	`RepaymentsOfLongTermCapitalLeaseObligations`	$472.00K	USD	2 Qtrs
Repayment of capital lease obligation to affiliate	`RepaymentsOfLongTermCapitalLeaseObligations`	$423.00K	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$183.00K	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$260.00K	USD	2 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$166.00K	USD	2 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$131.00K	USD	2 Qtrs
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.00K	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.04M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.64M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$58.81M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.92M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$63.42M	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`	$35.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.62M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$63.42M	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`	$35.37M	USD	Point-in-time
Issuance of nonvested stock from treasury	`StockIssued1`	$183.00K	USD	2 Qtrs
Issuance of nonvested stock from treasury	`StockIssued1`	$926.00K	USD	2 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$344.00K	USD	2 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$454.00K	USD	2 Qtrs
Contingent consideration recorded in accrued expenses and other liabilities	`LiabilitiesAssumed1`	$1.90M	USD	2 Qtrs

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