CDW Corp. Accelerates Off Solid Growth

When CDW Corp. (CDWC) announced earnings for the first quarter, we described the results as solid. The 8.0% growth was above average for the computer-related industries though below the “double-digit” growth investors typically (and quite arbitrarily) expect from tech-related firms.

CDW’s Average Daily Sales Increase 22.8 Percent in April 2007

CDW Corporation (CDWC), a leading provider of technology products and services to business, government and education, today announced average daily sales for April 2007 were $29.571 million, an increase of 22.8 percent compared to average daily sales of $24.088 million for April 2006. Total sales for April 2007 were $621.0 million, an increase of 28.9 percent compared to total sales of $481.8 million for April 2006. There were 21 billing days in April 2007 and 20 billing days in April 2006.

Even excluding the acquisition, CDW posted those double-digit sales gains. CDW is a major reseller of Hewlett Packard (HPQ - Annual Report) computers, but Hewlett’s recent blowout was attributed to Asia. CDW only sells in the US, where businesses have been parsimonious with regard to equipment and software spending. It looks like CDW could be gaining a good deal of market share.

CDWC 1-yr chart: