ePlus reports Q4 adjusted EPS $1.11 vs. 93c last year

Reports Q4 revenue $498.1M vs. $554.5M last year. “During the fourth quarter, we delivered double digit growth across several key metrics, including gross profit, net earnings and EPS,” commented Mark Marron, president and CEO of ePlus (PLUS). “We are benefiting from evolving industry trends of increased ratable and subscription revenue models, which are driving a greater gross to net percentage and can provide long term visibility and profitability. Our services-led approach resulted in services revenue increasing 33% in the quarter and 37% for the full year. This contributed to significant gross margin expansion. Through both organic initiatives and acquisitions, our business is expanding to serve diverse end markets with long-term secular demand drivers, including AI, cyber security and cloud, among others.”