ePlus reports Q1 non-GAAP EPS $1.41, consensus 98c

Reports Q1 revenue $574.2M, consensus $495.76M. “In an evolving market environment for IT spending, our strong Q1 results reflect the continued successful execution of our growth strategy and our ability to provide customized solutions that deliver value quickly and effectively,” said Mark Marron, president and CEO of ePlus. “Consolidated net sales grew approximately 25% year-over-year, driven by gains in cloud and networking, as well as contributions from recent acquisitions. Revenue also benefited from some easing of supply chain constraints that enabled us to fulfill prior customer orders. The improvement in our sales revenue, coupled with continued operational discipline and effective cost management, fueled EPS growth of approximately 51%.”