Online VAR reports solid financials

Online reseller Insight reported worldwide sales up 3.4 per cent to $806m, for its first quarter 2006 ended 31 March 2006. Earnings on a non-Generally Accepted Accounting Principals (GAAP) were up 11 per cent to $16.9m from $15.2 in Q1 2005. On a GAAP basis, worldwide earnings were down eight per cent, from $15.5m in the year ago quarter to $14.2m.

Insight in the UK reported net sales up 1.1 per cent to $119.9m, however converted to UK pounds this growth is 9.1 per cent. Earnings for the UK on a non- Generally Accepted Accounting Principals-basis were up 25 per cent year over year to $3.8m. On a GAAP basis earnings were down five per cent from $3.7m in Q1 2005 to $3.5m in Q1 2006.

Stuart Fenton, UK managing director at Insight told CRN: “It has been a successful Q1 from a world wide perspective. There was growth in top line revenues and bottom line income.

“In the UK we are pleased with our performance against the market and have improved bottom line revenues.”