Earnings release
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FOR IMMEDIATE RELEASE Insight Li EXHIBIT 99.1 NASDAQ : NSIT INSIGHT ENTERPRISES , INC . REPORTS THIRD QUARTER 2021 RESULTS TEMPE , AZ – November 4 , 2021 – Insight Enterprises , Inc. ( NASDAQ : NSIT ) ( the " Company " ) today reported financial results for the quarter ended September 30 , 2021. Highlights include : Net sales increased 26 % year over year to $ 2.45 billion . Gross profit increased 19 % year over year to $ 364.5 million Earnings from operations increased 35 % to $ 83.2 million and was 3.4 % of net sales Adjusted earnings from operations increased 30 % to $ 93.5 million and was 3.8 % of net sales Diluted earnings per share of $ 1.51 increased 37 % year over year Adjusted diluted earnings per share of $ 1.87 increased 36 % year over year In the third quarter of 2021 , net sales increased 26 % , year over year . Gross profit increased 19 % while gross margin contracted 100 basis points compared to the third quarter of 2020. Earnings from operations of $ 83.2 million increased 35 % compared to $ 61.5 million in the third quarter of 2020. Adjusted earnings from operations of $ 93.5 million increased 30 % compared to $ 71.8 million in the third quarter of 2020. Diluted earnings per share for the quarter were $ 1.51 , up 37 % , year over year , and adjusted diluted earnings per share were $ 1.87 , up 36 % year over year . " During the third quarter we delivered a double digit increase in adjusted earnings from operations , up 30 % compared to last year's third quarter . Significant top line growth was driven by hardware net sales , which were up 36 % compared to prior year , " stated Ken Lamneck , President and Chief Executive Officer . " We exited the third quarter with elevated hardware backlog above levels at the start of the quarter . We expect about 50 % of this backlog will ship in Q4 this year . We are pleased to see the pipeline for future sales continue to build to healthy levels into 2022 , " stated Lamneck . KEY HIGHLIGHTS Consolidated net sales for the third quarter of 2021 of $ 2.45 billion increased 26 % , year over year , when compared to the third quarter of 2020 . • Net sales in North America increased 30 % , year over year , to $ 2.02 billion ; Net sales in EMEA increased 12 % , year over year , to $ 381.4 million ; and • Net sales in APAC increased 25 % , year over year , to $ 46.2 million . Excluding the effects of fluctuating foreign currency exchange rates , consolidated net sales were up 25 % , year over year , with growth in net sales in North America , EMEA and APAC of 29 % , 7 % and 21 % , respectively , year over year . Consolidated gross profit increased to $ 364.5 million , an increase of 19 % compared to the third quarter of 2020 , with consolidated gross margin contracting 100 basis points to 14.9 % of net sales . . Gross profit in North America increased 20 % , year over year , to $ 296.0 million ( 14.7 % gross margin ) ; Gross profit in EMEA increased 10 % , year over year , to $ 55.4 million ( 14.5 % gross margin ) ; and Gross profit in APAC increased 30 % , year over year , to $ 13.1 million ( 28.4 % gross margin ) . Insight Enterprises , Inc. 6820 South Harl Avenue - MORE - Tempe , Arizona 85283 800.467.4448 FAX 480.760.8958