PC Connection Inc. (PCCC) 2009年年度报告「NASDAQ」.pdf

1、2009 ANNUAL REPORTDear Fellow Shareholders,Patricia GallupChairman&Chief Executive Officer PC Connection,Inc.In 2009,PC Connection,Inc.took steps to strengthen our business with the right investments at the right time.The difficult economic conditions of the year tested the vision of the Company as

2、we identified areas to make strategic improvements to our operations and increase the reach and depth of our capabilities as an end-to-end IT solutions provider.Our goals for 2009 were to grow diverse customer markets,increase sales productivity,and provide high value and expert guidance.We set abou

3、t accomplishing these goals by investing in talent,enhancing our websites,and transforming business processes to optimize operational efficiency and enable higher levels of customer service.As the clouds of the downturn begin to part,we anticipate we will recover ground from the shortfalls of the pa

4、st years challenging economic environment.Even in light of the reduced demand for technology products in 2009,PC Connection generated consolidated net sales of$1.57 billion,down just 10%from 2008.Despite lower profitability,due in part to increased pricing pressures and lower margins,the Companys ba

5、lance sheet remains healthy.We ended the year with a cash balance of$46.3 million and continue to have no outstanding bank debt.In 2009,we saw an increase in average order size on a consolidated basis,as well as record-high levels of sales to first-time buyers in our enterprise and government entiti

6、es.Although we ended the year encouraged by PC Connections resilience,we remain focused on staying true to our long-term goals and strategies while gaining market share and outperforming the competitive landscape.Part of our investment plan was to devote further resources to ProConnection,our profes