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Insight Enterprises Inc. (NSIT) has filed its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported net sales of $8.7 billion, a decrease of 5% from the previous year. Gross profit increased by 6% to $1.8 billion, with a gross margin expansion to 20.3%.
Net earnings for the year were $249.7 million, down from $281.3 million in 2023. Diluted earnings per share were $6.55, compared to $7.55 in the prior year.
Insight Enterprises completed the acquisition of Infocenter on May 1, 2024, for $265 million, net of cash acquired. The acquisition is expected to enhance the company's digital transformation capabilities.
The company reported cash flows from operations of $632.8 million for the year. Capital expenditures totaled $46.8 million, primarily for technology-related projects.
Insight's North America segment reported net sales of $7.1 billion, a 4% decrease year over year. EMEA sales decreased by 10% to $1.4 billion, while APAC sales increased by 1% to $233 million.
The company ended the year with $259.2 million in cash and cash equivalents and $864.1 million in long-term debt, including $332.9 million related to convertible senior notes due in February 2025.
Insight Enterprises does not anticipate paying cash dividends in the near future, as stated in its filing.
The company continues to focus on its strategy to be a leading solutions integrator, emphasizing client-first approaches, differentiation, culture, and growth.
The filing includes a detailed discussion of risks, including competitive pressures, reliance on partners, and economic conditions that could impact future performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Insight Enterprises Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.