Wayside Technology Group (WSTG) has reported 1.22 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $5.90 million, or $1.31 a share in the quarter, compared with $5.83 million, or $1.25 a share for the same period last year. Revenue during the quarter grew 9.43 percent to $418.13 million from $382.09 million in the previous year period. Gross margin for the quarter contracted 42 basis points over the previous year period to 6.54 percent. Total expenses were 97.94 percent of quarterly revenues, up from 97.77 percent for the same period last year. That has resulted in a contraction of 17 basis points in operating margin to 2.06 percent.
Operating income for the quarter was $8.62 million, compared with $8.51 million in the previous year period.
"With a strong fourth quarter finish, 2016 was an exciting and transformational year for Wayside. We continued to grow our company profitably and return value to our shareholders." said Simon F. Nynens, chairman and chief executive officer. "Positioned as a leading specialty distributor of software in the dynamic markets of security, virtualization and cloud, we continue to differentiate ourselves by offering the flexible solutions our partners demand in these fast moving markets. We paid dividends for 56 consecutive quarters and bought back a total of approximately 309,000 shares in 2016. We will continue to utilize our capital to maximize our shareholder return in 2017."
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