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May 5 , 2021 CLIMB GLOBAL SOLUTIONS Wayside Technology Group Reports First Quarter 2021 Results EATONTOWN , N.J. , May 05 , 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 , is reporting results for the first quarter ended March 31 , 2021 . First Quarter 2021 Summary vs. 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 . 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 . " 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 . 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 . 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 . " Our three core growth drivers continued to be top of mind throughout the quarter , and they will underscore our strategy going forward . As part of our ongoing support to current vendors , we have helped them navigate a dynamic demand environment as their end customers continue building their IT infrastructures within an increasingly hybrid work - driven landscape . This new environment has shifted our product mix from quarter to quarter , with security , data center and cloud products garnering greater demand in Q1 . Even as broader recovery from the pandemic progresses , IT needs will continue to evolve , and our diversified