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November 3 , 2021 CLIMB GLOBAL SOLUTIONS Wayside Technology Group Reports Third Quarter 2021 Results Continued Sales Momentum Drives 56 % Increase in Gross Profit ; Operating Leverage More Than Doubles Net Income and Adjusted EBITDA EATONTOWN , N.J. , Nov. 03 , 2021 ( GLOBE NEWSWIRE ) -- Wayside Technology Group , Inc. ( NASDAQ : WSTG ) ( " Wayside " or the " Company " ) , a value - added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors , is reporting results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights vs. Year - Ago Quarter • Net sales increased 13 % to $ 68.9 million . ● Adjusted gross billings ( a non - GAAP financial measure defined below ) increased 33 % to $ 226.9 million . • Gross profit increased 56 % to a record $ 11.3 million . • Net income increased more than 4x to $ 2.4 million or $ 0.55 per diluted share . Adjusted EBITDA ( a non - GAAP financial measure defined below ) more than doubled to a record $ 4.2 million . Management Commentary " Our third quarter results reflect another period of strong growth and profitability resulting from organic growth initiatives and the integration of CDF , which was acquired in November of last year , " said CEO Dale Foster . " Excluding CDF from our Q3 results , gross profit would have still increased more than 20 % as we continue to successfully deepen relationships with existing vendors and customers while vetting new emerging technologies to add to our line card . In fact , we increased billings with nine out of our top ten vendors during the quarter . " Looking ahead to what is typically our strongest quarter of the year , we expect to exit 2021 on another high note in the fourth quarter and carry our momentum into next year . The investments we have made in our business over the past several quarters are beginning to generate solid operating leverage and bottom - line margin expansion ; however , we still have room to further improve . We are also actively identifying acquisition opportunities that can enhance our geographic footprint , service and solution offerings , and we look forward to executing on that initiative in the quarters ahead . " Dividend Subsequent to the quarter end , on November 2 , 2021 , Wayside's board of directors declared a quarterly dividend of $ 0.17 per share of its common stock payable on November 19 , 2021