Insight Enterprises Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Insight Enterprises (NAS: NSIT) are seeing healthy gains today as high as 19% after the company reported earnings last night.
So what: Revenue in the fourth quarter added up to $1.36 billion, a modest 2% increase. Looking further down on the income statement, net earnings came out to $34.7 million, or $0.78 per share, a significant 47% increase from last year.
Now what: CEO Ken Lamneck attributed the earnings growth despite the relatively flat top line to gross margin expansion and controlling costs in the quarter. Full-year revenue was able to grow by 10% while delivering a 33% jump in net earnings. Lamneck said, "As we head into 2012, we remain confident that consistent execution of our strategic priorities combined with operational discipline will result in increased value for our stakeholders."
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