Commentary: Top performers take a shine to these specialty retailers. The increase in gross profit was driven by the positive impact of CDF and Interwork. In addition, other companies, including companies in our industry, might calculate adjusted EBITDA, or similarly titled measures differently, which may reduce their usefulness as comparative measures. An operator will register your name and organization. WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Through our business divisions, we extend this offering to technology resellers and businesses around the globe. Even as broader recovery from the pandemic progresses, IT needs will continue to evolve, and our diversified portfolio and line card remain poised to support these needs. It has traded in the range of $9.52- $26.44 in the past 52 weeks. Wayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added IT distribution and solutions company specializing in emerging technologies. Insider buying vs selling Have Wayside Technology Group Inc insiders been buying or selling? Total selling, general, and administrative (“SG&A”) expenses in the first quarter of 2021 were $8.8 million compared to $7.2 million for the same period in 2020. Cookie Notice (). Mar-18-19 06:48PM : Wayside Technology Group Inc (WSTG) Files 10-K for the Fiscal Year Ended on December … While the benefits of these investments have yet to fully flow through to our profitability, we expect to generate further bottom-line growth over time as we keep supporting our organic business and driving additional synergies with CDF and Interwork. Currently, one of the most significant factors, however, is the potential adverse effect of the current pandemic of the novel coronavirus, or COVID-19, on the Company, the global economy and financial markets. Del Taco Restaurants pays an annual dividend of $0.16 per share and has a dividend yield of 1.4%. Visit a quote page and your recently viewed tickers will be displayed here. The 2021 Alfa Romeo Stelvio combines Italian luxury with exciting performance, How to find the best credit card for international travel, Interest in summer travel is spiking—how to stay safe and do it on the cheap, It’s not just teenagers—millions of workers over 55 earn minimum wage, European stocks and U.S. equity futures mixed after records, with commodity stocks in the lead, Centrica doesn't provide guidance as virus weighs, Societe Generale presents mid-term strategies, AngloGold Ashanti profit jumps on stronger prices, Low-voltage tech stocks on a high-yield wire, Wayside Technology Group: Expanding the Distribution Network. Company Info. Nasdaq 100. The results will be reported in a press release prior to the conference call. Wayside Technology Group shares last traded at $18.48, with a volume of 41,472 shares trading hands. Something went wrong while loading Watchlist. Wayside Technology Group, Inc.’s stock is valued at $19.45 at 10:23 EST, way below its 52-week high of $26.50 and way above its 52-week low of $9.52. Wayside Technology Group's stock was trading at $14.40 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Wayside Technology Group, Inc.’s Moving Average. Item 2.02. The company […] The conference call will be broadcast live and available for replay here and on the investor relations section of the company’s website at www.waysidetechnology.com. See why the stock has 41% upside from here even after strong rally. In addition, other companies, including companies in our industry, might calculate adjusted gross billings of product and services or similarly titled measures differently, which may reduce their usefulness as comparative measures. At Wayside, our mission is to deliver easy access to superior IT products. Insider Monkey • 5 months ago Is Wayside Technology Group, Inc. (WSTG) A Good Stock To Buy Now? Climb Channel Solutions is a specialty technology distributor focused on emerging data center and cloud-based technologies. Information is provided 'as-is' and solely for info Effective margin, which is defined as adjusted EBITDA (a non-GAAP financial measure defined below) as a percentage of gross profit, was 24.4% in the first quarter of 2021 compared to 38.2% for the same period in 2020. Name Role Date Shares Price Value; Carol Dibattiste: Director: 2021-03-04: 1,105: $25.68: $28.38k Buy. The tables below present net income reconciled to net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs (Non-GAAP) (2) and net income reconciled to adjusted EBITDA (3): Net income reconciled to net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs (Non-GAAP): Three months ended March 31, March 31, 2021 2020 Net income $1,520 $836Legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes - 992Acquisition related costs - 302Net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs $1,520 $2,131 Net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs per common share - diluted $0.35 $0.47 (2) We define net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs, as net income, plus legal and financial advisory expenses, net - unsolicited bid and related matters and acquisition related costs, less the income tax benefit attributable to the legal and financial advisory expenses, net - unsolicited bid and related matters. The latest closing stock price for Wayside Technology as of May 03, 2021 is 24.90.. Our use of net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs has limitations, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. We define effective margin as adjusted EBITDA as a percentage of gross profit. Forward-Looking Statements The statements in this release concerning the Company’s future prospects are forward-looking statements that involve certain risks and uncertainties. We provided a reconciliation of net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs, to net income, which is the most directly comparable U.S. GAAP measures. Investors. Three months ended March 31, March 31, Components of interest, net2021 2020 Amortization of discount on accounts receivable with extended payment terms$ (25) $ (62) Interest income(3) (17) Interest expense18 17 Interest, net$ (10) $ (62), EATONTOWN, N.J., April 26, 2021 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (“Wayside” or the “Company”), a value-added IT channel company providing innovative sales and distribution solutions for emerging technology vendors, has updated the time of its conference call for the first quarter ended March 31, 2021 to 8:30 a.m. Eastern time on Thursday, May 6, 2021. NEW YORK, NY / ACCESSWIRE / May 6, 2021 / Wayside Technology Group, Inc. (NASDAQ:WSTG) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 6, 2021 at 8:30 AM Eastern Time. View which stocks have been most impacted by COVID-19. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Sigma, Grey Matter, Interwork and TechXtend. There are currently no items in this Watchlist. Overview. Copyright © 2021 MarketWatch, Inc. All rights reserved. Wayside Technology Group Inc is a cloud solutions provider and value-added reseller of software, hardware and services to customers. Buy. Three months ended March 31, March 31,Net income reconciled to adjusted EBITDA: 2021 2020 Net income $ 1,520 $ 836 Provision for income taxes 431 279 Depreciation and amortization 399 96 Interest expense 18 17EBITDA 2,368 1,228 Share- based compensation 279 167 Legal and financial advisory expenses, net - unsolicited bid and related matters- 1,323 Acquisition related costs - 403Adjusted EBITDA $ 2,647 $ 3,121 (3) We define adjusted EBITDA, as net income, plus provision for income taxes, depreciation, amortization, share-based compensation, interest, legal and financial advisory expenses, net – unsolicited bid and related matters and acquisition related costs. This can prove rather insightful due to the fact that some stocks/sectors tend to perform especially well during certain periods of the year. The extent to which COVID-19 impacts the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, including the impact on our reseller partners and the end customer markets they serve, among others. Log in to see them here or sign up to get started. Wayside Technology Group, Inc is primarely in the business of wholesale-computer & peripheral equipment & software. Wayside Technology Group Inc. historical stock charts and prices, analyst ratings, financials, and today’s real-time WSTG stock price. In addition, other companies, including companies in our industry, might calculate legal and financial advisory expenses, net - unsolicited bid and related matters, acquisition related costs, legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes, or similarly titled measures differently, which may reduce their usefulness as comparative measures. An operator will register your name and organization. © 2021 Verizon Media. How often does Wayside Technology Group pay dividends? Our use of adjusted gross billings of product and services as analytical tools has limitations, and you should not consider them in isolation or as substitutes for analysis of our financial results as reported under US GAAP. The cloud is a mainstay of today’s remote and hybrid work environments, and we expect it to become an important and strategic element of both our portfolio and our long-term growth. Net income in the first quarter of 2021 increased 82% to $1.5 million or $0.35 per diluted share, compared to $0.8 million or $0.18 per diluted share for the same period in 2020. For financial reporting, their fiscal year ends on December 31st. Same Year-Ago Quarter Net sales increased slightly to $62.8 million compared to $62.6 million.Gross profit increased 33% to a record $10.8 million compared to $8.2 million.Net income increased 82% to $1.5 million or $0.35 per share, compared to $0.8 million or $0.18 per share.Net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters and acquisition related costs, net of taxes (a non-GAAP financial measure defined below) was $1.5 million or $0.35 per share, compared to $2.1 million or $0.47 per share.Adjusted EBITDA (a non-GAAP financial measure defined below) was $2.6 million compared to $3.1 million. Additional information can be found by visiting www.waysidetechnology.com. The Distribution segment distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators worldwide under the names Climb Channel Solutions and Sigma Software Distribution. Subscriber Agreement & Terms of Use, The extent to which COVID-19 impacts the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, including the impact on our reseller partners and the end customer markets they serve, among others. Gross profit in the first quarter of 2021 increased 33% to $10.8 million compared to $8.2 million for the same period in 2020. Non-GAAP Financial Measures We use non-GAAP financial measures, including adjusted gross billings, net income excluding legal and financial advisory expenses, net - unsolicited bid and related matters, net of taxes and acquisition related costs, and adjusted EBITDA as supplemental measures of the performance of our business. The Company provides IT distribution and solutions for emerging companies in the Security, Data Management, Cloud, Connectivity, Storage & HCI, Virtualization, and Software & ALM industries. Wayside Technology Group, Inc. engages in the distribution of software developed by others through resellers indirectly to customers. Wayside Technology Group, Inc. (NASDAQ:WSTG) is not the least popular stock in this group but hedge fund interest is still below average. The stock has a two hundred day moving average of $22.03 and traded as low as $18.16. The cross-selling opportunities we are identifying through Interwork and CDF’s networks will help us deepen our global footprint and bolster the strength of our combined sales team. For the best MarketWatch.com experience, please update to a modern browser. “We are expanding this diversification even further through adding new vendors with above-average growth potential. Wayside Technology stock is currently trading at $21.83. ET Since then, WSTG shares have increased by 70.1% and is now trading at $24.50. It is important to note that the first quarter of 2020 had substantial uptick in growth attributable to a significant client win. The price of Wayside Technology Group Inc (WSTG) stock during the starting week of Oct-2020 was 22.8987$ and that of the closing week of Mar-2021 was 25.2$. As we made further progress on our integration of CDF Group (CDF) and develop both existing partnerships and cross-selling opportunities, we are making key strategic investments ahead of our growth objectives. Additional information can be found by visiting www.waysidetechnology.com. The initial allocation of the purchase price of CDF Group is based on preliminary information and is subject to adjustments during a one-year measurement period following the close date of the acquisition. The Company provides IT distribution and … The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission. Generates strong FCF, with expected 2021 FCF yield of 9.0%. Intraday Data provided by FACTSET and subject to terms of use. “Despite a tough comparable period in the prior year, we generated year-over-year growth across net sales, adjusted gross billings and gross margin, reaching a record $10.8 million in gross profit for the quarter. GAAP”). We use adjusted EBITDA as a supplemental measure of our performance to gain insight into our businesses profitability when compared to the prior year and our competitors. News & Events. Ever wondered how to buy stock in Wayside Technology Group, Inc? On May 5, 2021, Wayside Technology Group, Inc. (the " Company") issued a press release announcing its financial results for the quarter ended March 31, 2021.A copy of this press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1-949-574-3860. The Company provides IT distribution and solutions for emerging companies in the Security, Data Management, Cloud, Connectivity, Storage & HCI, Virtualization, and Software & ALM industries. The increase was primarily driven by continued improvements in working capital, along with the liquidity benefits of the aforementioned early pay discount program. If you are looking for stocks with good return, Wayside Technology Group Inc can be a profitable investment option. Currency in USD, Trade prices are not sourced from all markets. Conversion or Exercise Price of Derivative Security: 3. We use adjusted gross billings of product and services as a supplemental measure of our performance to gain insight into the volume of business generated by our business, and to analyze the changes to our accounts receivable and accounts payable. Wayside Technology Group shares last traded at $25.01, with a volume of 4,226 shares traded. How Will the Market React to Wayside Technology Group, Inc. (WSTG) Stock Getting a Bullish Rating Thursday, May 06, 2021 03:16 PM | InvestorsObserver Analysts Overall market sentiment has been high on Wayside Technology Group, Inc. ( WSTG ) stock lately. We explain how and compare the best share dealing platforms. By using this site you agree to the Subscribe to Yahoo Finance Plus to view Fair Value for WSTG. As a percentage of net sales, SG&A was 14.0% compared to 11.5% for the same period in 2020. Wayside Technology Group stock opened at $25.05 on Wednesday. Data is currently not available. 3) 2. 2. Based on our forecasts, a long-term increase is expected, the "WSTG" stock … Effective margin is expected to improve over the coming quarters as the Company works to offset these factors and drive greater benefits from its strategic investments. Results of Operations and Financial Condition. Wayside Technology's (WSTG) 1Q21 results were a mixed bag with muted revenue growth, and lower adjusted EPS. Wayside Technology Group is … Wayside Technology Group, Inc. has a 12 month low of $11.21 and a 12 month high of $26.50. Management Commentary “During the first quarter, we continued to execute on our growth strategy and lay a solid foundation for 2021,” said Dale Foster, CEO of Wayside. It offers an extensive line of products from software vendors and tools for virtualization/cloud computing, security, networking, storage & infrastructure management, application lifecycle management and other technically sophisticated domains as well as computer … The increase was primarily driven by incremental costs related to the operations of CDF and Interwork, as well as a one-time severance expense incurred during the quarter. Over time, the Company continues to expect SG&A margin to decline as a percent of revenue as it leverages the resources of the combined organizations. Company Contact Michael VeseyChief Financial Officer1-732-389-0932michael.vesey@waysidetechnology.com Investor Relations Contact Cody Cree or Jackie KeshnerGateway Investor Relations1-949-574-3860WSTG@gatewayir.com WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except share and per share amounts) March 31, December 31, 2021 2020 ASSETS Current assets Cash and cash equivalents$ 33,747 $ 29,348 Accounts receivable, net of allowances of $910 and $892, respectively95,412 93,821 Inventory, net4,190 4,936 Vendor prepayments and advances7,531 1,235 Prepaid expenses and other current assets3,777 3,837 Total current assets144,657 133,177 Equipment and leasehold improvements, net2,275 2,308 Goodwill17,457 16,816 Other intangibles, net10,753 10,625 Right-of-use assets, net1,856 1,933 Accounts receivable long-term, net135 304 Other assets510 257 Deferred income tax assets67 113 Total assets$ 177,710 $ 165,533 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses$ 126,832 $ 116,692 Lease liability, current portion505 490 Total current liabilities127,337 117,182 Lease liability, net of current portion2,051 2,167 Deferred income tax liabilities1,573 1,467 Total liabilities130,961 120,816 Stockholders' equity Common stock, $.01 par value; 10,000,000 shares authorized, 5,284,500 shares issued, and 4,411,197 and 4,361,997 shares outstanding , respectively53 53 Additional paid-in capital31,358 31,962 Treasury stock, at cost, 873,303 and 922,503 shares, respectively(13,921) (14,747) Retained earnings28,961 28,191 Accumulated other comprehensive income (loss)298 (742)Total stockholders' equity46,749 44,717 Total liabilities and stockholders' equity$ 177,710 $ 165,533 WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) (Amounts in thousands, except per share data) Three months ended March 31, 2021 2020 Net Sales$ 62,813 $ 62,618 Cost of sales51,970 54,454 Gross profit10,843 8,164 Selling, general and administrative expenses8,412 5,404Legal and financial advisory expenses, net - unsolicited bid and related matters- 1,323Acquisition related costs- 403Amortization & depreciation expense399 96Total selling, general and administrative expenses8,811 7,226 Income from operations2,032 938 Interest, net10 62Foreign currency transaction (loss) gain(91) 115Income before provision for income taxes1,951 1,115Provision for income taxes431 279 Net income$ 1,520 $ 836 Income per common share - Basic$ 0.35 $ 0.18Income per common share - Diluted$ 0.35 $ 0.18 Weighted average common shares outstanding - Basic4,247 4,447Weighted average common shares outstanding - Diluted4,247 4,447 Dividends paid per common share$ 0.17 $ 0.17 Reconciliation of GAAP and Non-GAAP Financial Measures (unaudited)(Amounts in thousands, except per share data) The table below presents net sales reconciled to adjusted gross billings (Non-GAAP): Three months ended Adjusted Gross Billings (Non-GAAP) (1) March 31, March 31, 2021 2020 Net sales $ 62,813 $ 62,618 Costs of sales related to Software – security and highly interdependent with support and maintenance, support and other services 148,048 110,481 Adjusted gross billings (Non-GAAP) $ 210,861 $ 173,099 (1) We define adjusted gross billings as net sales in accordance with US GAAP, adjusted for the cost of sales related to Software – security and highly interdependent with support and maintenance, support and other services. “As we look to the rest of 2021, we plan to continue leveraging our strong foundation to support the emerging vendors in our network and pipeline, as well as seek additional accretive acquisition opportunities in the IT distribution and solutions marketplace. Wayside Technology Group, Inc. is a regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Sigma, Grey Matter, Interwork and TechXtend. The decrease was primarily driven by the impact of the aforementioned severance expenses, early pay discount programs, and increased customer rebates and decreased vendor rebates, which were elevated relative to the year-ago quarter. Adjusted EBITDA is also a component to our financial covenants in our credit facility. Our use of adjusted EBITDA has limitations, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under US GAAP. With the marketplace set to launch later this month, we expect to expand our support for new and incoming cloud vendors, as well as offer more comprehensive end-to-end services for consumers. First Quarter 2021 Summary vs. View Wayside Technology Group stock / share price, financial statements, key ratios and more at Craft. About Wayside Technology GroupWayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added IT distribution and solutions company specializing in emerging technologies. Wayside Technology Group Inc quote is equal to 24.670 USD at 2021-05-01. Wayside Technology Group has raised its dividend for 1 consecutive years. As we ramp-up collaboration among our US, Canadian and EMEA sales teams, we are already adding several emerging UK vendors to our line card. SEC Filings. Adjusted EBITDA (a non-GAAP financial measure defined below) in the first quarter of 2021 was $2.6 million compared to $3.1 million for the same period in 2020. Further, these expenses reflect increased investments ahead of the Company’s growth objectives, which are expected to drive continued gross profit growth in the coming quarters. First Quarter 2021 Financial Results Net sales in the first quarter of 2021 increased slightly to $62.8 million compared to $62.6 million for the same period in 2020. “Our three core growth drivers continued to be top of mind throughout the quarter, and they will underscore our strategy going forward. About Wayside Technology Group Wayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added IT distribution and solutions company specializing in emerging technologies. View real-time stock prices and stock quotes for a full financial overview. The cloud products and consultative services offered through Grey Matter and Cloud Know How (divisions of CDF), respectively, have accelerated our long-running development of an internal cloud marketplace. Forward Looking StatementsThe statements in this release concerning the Company’s future prospects are forward-looking statements that involve certain risks and uncertainties. WSTG Stock Predictions, Articles, and Wayside Technology News From the Web Wayside Technology Group Updates Time of First Quarter 2021 Conference Call on May 6, 2021 to 8:30 a.m. Date: Thursday, May 6, 2021Time: 8:30 a.m. Eastern timeToll-free dial-in number: (888) 771-4371International dial-in number: (847) 585-4405Conference ID: 50151487 Please call the conference telephone number 5-10 minutes prior to the start time. Wayside management will host the conference call, followed by a question and answer period. The Solutions segment provides cloud solutions and value-added reseller of software, hardware and services to customers worldwide under the names TechXtend and Grey Matter. Date: Thursday, May 6, 2021Time: 8:30 a.m. Eastern timeToll-free dial-in number: (888) 771-4371International dial-in number: (847) 585-4405Conference ID: 50151487 Please call the conference telephone number 5-10 minutes prior to the start time. GlobeNewswire. Adjusted gross billings (a non-GAAP financial measure defined below) in the first quarter of 2021 increased 22% to $210.9 million compared to $173.1 million for the same period in 2020. The Company remained debt free on March 31, 2021, and had no borrowings outstanding under its $20 million credit facility. Over the past year the S&P 500 is higher by 25.93% while WSTG has gained 59.81%. It operates through Distribution and Solutions segments. The stock has a market cap of $110.47 million, a price-to-earnings ratio of 23.19 and a beta of 0.91.
Books Every Science Teacher Should Read, Who Is Blackpink Crush, Fanny Mendelssohn Pieces, Achyutam Keshavam Original, Radhe Movie Trailer Release Date, Who Is Neiman Marcus Owned By, Banjo Kazooie Plush 1998, Uw Milwaukee Baseball Field,