Earnings release
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FOR IMMEDIATE RELEASE Insight INSIGHT ENTERPRISES , INC . REPORTS FIRST QUARTER 2021 RESULTS EXHIBIT 99.1 NASDAQ : NSIT TEMPE , AZ - May 6 , 2021 – Insight Enterprises , Inc. ( NASDAQ : NSIT ) ( the " Company " ) today reported financial results for the quarter ended March 31 , 2021. Highlights include : Net sales increased 2 % year over year to $ 2.2 billion Earnings from operations increased 27 % to $ 67.0 million Adjusted earnings from operations increased 3 % to $ 68.3 million Diluted earnings per share of $ 1.18 increased 24 % year over year Adjusted diluted earnings per share of $ 1.30 was flat with prior year In the first quarter of 2021 , net sales increased 2 % , year over year . Gross profit also increased 2 % while gross margin contracted 10 basis points compared to the first quarter of 2020. Earnings from operations of $ 67.0 million increased 27 % compared to $ 52.9 million in the first quarter of 2020. Adjusted earnings from operations of $ 68.3 million increased 3 % compared to $ 66.6 million in the first quarter of 2020. Diluted earnings per share for the quarter was $ 1.18 , up 24 % , year over year , and adjusted diluted earnings per share was $ 1.30 , flat year to year . “ In the first quarter , with the launch of COVID - 19 vaccines , parts of the world began to awaken from the year long quarantine and economic pause . I'm happy to report that our business returned to organic top line growth year over year in the first quarter , ” stated Ken Lamneck , President and Chief Executive Officer . “ Largely consistent gross margins , year over year , combined with operating leverage drove earnings from operations up 27 % and Adjusted earnings from operations up 3 % . Our performance for the quarter sets a good base for what we expect will be a strong year . " stated Lamneck . KEY HIGHLIGHTS Consolidated net sales for the first quarter of 2021 of $ 2.19 billion increased 2 % , year over year , when compared to the first quarter of 2020 . Net sales in North America decreased 1 % , year to year , to $ 1.65 billion ; Net sales in EMEA increased 14 % , year over year , to $ 478.8 million ; and Net sales in APAC increased 17 % , year over year , to $ 59.5 million . Excluding the effects of fluctuating foreign currency exchange rates , consolidated net sales were flat , year to year , with growth in net sales in EMEA and APAC of 5 % and 2 % , respectively , year over year , partially offset by a decline in North America of 2 % , year to year . Consolidated gross profit increased to $ 331.5 million , an increase of 2 % compared to the first quarter of 2020 , with consolidated gross margin contracting 10 basis points to 15.1 % of net sales . Gross profit in North America decreased 1 % , year to year , to $ 253.5 million ( 15.3 % gross margin ) ; Gross profit in EMEA increased 12 % , year over year , to $ 66.0 million ( 13.8 % gross margin ) ; and Gross profit in APAC increased 24 % , year over year , to $ 12.0 million ( 20.1 % gross margin ) . Excluding the effects of fluctuating foreign currency exchange rates , consolidated gross profit was flat , year to year , with gross profit growth in EMEA and APAC of 3 % and 10 % , respectively , year over year , partially offset by a decline in North America of 4 % , year to year . Insight Enterprises , Inc. 6820 South Harl Avenue - MORE - Tempe , Arizona 85283 800.467.4448 FAX 480.760.8958