PC Mall Shares Surge on Record Earnings

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Shares in PC Mall Inc. shot up nearly 20 percent Thursday after the company reported that fourth-quarter profit nearly tripled on record sales.


The company reported that net income for the quarter ended Dec. 31 was $4.6 million (32 cents per share), an increase of 171 percent from $1.7 million (13 cents) in the same period a year earlier.


The Torrance-based online retailer also said that sales surged 38 percent to $408 million a record.


PC Mall attributed the increase to a rise in public sector and consumer sales. Sales of Apple Inc. products did particularly well.


For the full year, PC Mall earned $12.4 million (90 cents), more than triple what the company earned in 2006. Annual sales also edged higher to $1.22 billion from $1 billion.


Shares surged 18 percent to $9.48 in early trading Thursday on the Nasdaq. Shares hit a 52-week low of $6.32 less than a month ago.

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