![INSIGHT ENTERPRISES INC [NSIT] reports quarterly net loss of $67 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FNSIT.png&w=1200&q=75)
INSIGHT ENTERPRISES INC [NSIT] has reported a net loss of $67 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $2.4 billion
Based in CHANDLER, Arizona, INSIGHT ENTERPRISES INC operates in the RETAIL sector.
In the latest financial report for the quarter ended March 31, 2024, Company ABC reported the following key financial figures compared to the same period in 2023:
Overall, the total net sales for the company increased slightly to $2.38 billion in 2024 from $2.32 billion in 2023. The Products segment experienced a slight decrease in net sales from $1.97 billion in 2023 to $1.96 billion in 2024. However, the Services segment saw a significant increase in net sales, rising from $356.3 million in 2023 to $415.5 million in 2024.
Costs of goods sold also saw a minor change, with total costs of goods sold in 2024 amounting to $1.94 billion compared to $1.93 billion in 2023. The Products segment reported a slight decrease in costs of goods sold from $1.77 billion in 2023 to $1.77 billion in 2024. On the other hand, the Services segment witnessed a modest increase in costs of goods sold from $159.9 million in 2023 to $166.9 million in 2024.
Gross profit for the entire company rose to $440.9 million in 2024 from $391.3 million in 2023. Within the segments, the Products segment's gross profit decreased from $194.9 million in 2023 to $192.4 million in 2024, while the Services segment saw a significant increase in gross profit, reaching $248.6 million in 2024 compared to $196.4 million in 2023.
In terms of net income, Company ABC reported a net profit of $67.0 million in 2024, which was an improvement from the $50.0 million net profit in 2023. The earnings per share also showed growth, with basic earnings per share increasing from $1.48 in 2023 to $2.06 in 2024, and diluted earnings per share rising from $1.34 in 2023 to $1.74 in 2024.
Overall, the company's financial performance displayed positive trends in net sales, gross profit, and net income, indicating a healthy financial position and growth potential.
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