PCM, Inc. (NASDAQ:PCMI) a leading technology solutions provider, announced that it will release its second quarter results ended June 30, 2019 after the market closes (4:00 p.m. EDT) on Thursday, August 8, 2019. The Company will issue a press release detailing the results for the quarter and can be accessed at investor.pcm.com under "Press Releases."
On June 24, 2019, PCM announced that it has entered into an agreement under which Insight Enterprises (Nasdaq: NSIT) will acquire PCM for $35 per share. The transaction is expected to close in the second half of 2019. The press release of the announcement can be accessed at investor.pcm.com under "Press Releases." Due to the pending transaction, the Company will not host a conference call to discuss its second quarter results.
PCM, Inc., through its wholly-owned subsidiaries, is a leading multi-vendor provider of technology solutions, including hardware, software and services to small, medium and enterprise businesses, state, local and federal governments and educational institutions across the United States, Canada and the UK. We generated net sales of approximately $2.2 billion in the twelve months ended March 31, 2019. For more information, please visit investor.pcm.com or call (310) 354-5600.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements regarding our expectations, hopes or intentions regarding the future, including but not limited to, the effect of the announcement or pendency of the proposed acquisition by Insight Enterprises of PCM on the Company’s business relationships, operating results and business; the failure to complete the proposed acquisition in a timely manner or at all and the effects of such failure on the Company’s business, financial condition, operating results and stock price; the limitations on the Company’s ability to pursue alternative transactions pursuant to the provisions of the merger agreement; statements related to the effectiveness of our strategy to leverage our investments and further optimize our sales mix while managing costs in order to drive shareholder value; expectations of financial performance; opportunities, expectations or intentions for top or bottom line operating results including without limit sales, gross profit and gross margin growth and expectations for our ability to make up any negative impact related to the Federal government shutdown; and expectations for non-GAAP earnings per share. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause our actual results to differ materially include without limitation risks and uncertainties related to the following: our IT infrastructure; risks associated with cyber and data security including compliance with related regulatory requirements such as the European Union General Data Protection Regulation and the California Consumer Privacy Act; our ability to attract and retain key employees; the potential lack of availability of government funding applicable to our Public Sector business; our ability to receive expected returns on changes in our sales and services organizations or strategic investments, including without limit, investments in security, cloud, hybrid data center, advanced technology solutions and services, our call centers and our international expansion; availability of key vendor incentives and other vendor assistance; the relationship between the number of our account executives and productivity; decreased sales related to any of our segments, including but not limited to, potential decreases in sales resulting from the loss of or a reduction in purchases from significant customers; possible discontinuance of IT licenses or authorizations used to operate our business which are provided by vendors; increased competition, including, but not limited to, increased competition from direct sales by some of our largest vendors and increased pricing pressures which affect our pricing strategy in any given period; the misappropriation or unauthorized use of our proprietary or confidential information by competitors or others; our loss of personnel to competitors; the effect of our pricing strategy on our operating results; potential decreases in sales related to changes in our vendors products; the impact of seasonality on our sales; availability of products from third party suppliers at reasonable prices; business and other conditions in Canada, the UK and Europe and the Asia Pacific region and the related effects on our Canadian, UK and our Asia-Pacific operations, including without limitation our executive management’s lack of experience operating in some of these markets; increased expenses, including, but not limited to, interest expense, foreign currency transaction gains/losses and other expenses which may increase as a result of future inflationary pressures; our advertising, marketing and promotional efforts may be costly and may not achieve desired results; shifts in market demand or price erosion of owned inventory; other risks related to foreign currency fluctuations; warranties and indemnities we may be required to provide to third parties through our commercial and government contracts; litigation by or against us, including without limitation the litigation and other actions related to our En Pointe acquisition; and availability of financing, including availability under our existing credit lines. Additional factors that could cause our actual results to differ are discussed under the heading “Risk Factors” in Item 1A, Part I of our Form 10-K for the period ended December 31, 2018, on file with the Securities and Exchange Commission, and in our other reports filed from time to time with the SEC. All forward-looking statements in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statements.