Second Quarter and Six Month Revenues Up 34% and 36% Year-Over-Year,
Respectively
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Jul. 26, 2012--
Datalink
(Nasdaq: DTLK), a leading provider of data center infrastructure and
services, today reported results for its second quarter and six months
that ended June 30, 2012. Revenues for the quarter ended June 30, 2012,
increased 34% to $120.0 million compared to $89.5 million for the
quarter ended June 30, 2011. Revenues for the six months ended June 30,
2012, increased 36% to $239.1 million compared to $175.2 million for the
six months ended June 30, 2011.
GAAP Results
On a GAAP basis, the company reported net
earnings of $3.2 million or $0.18 per diluted share for the second
quarter ended June 30, 2012. This compares to net earnings of $2.7
million or $0.16 per diluted share in the second quarter of 2011. For
the six months ended June 30, 2012, the company reported net earnings of
$5.4 million or $0.31 per diluted share, compared to net earnings of
$4.4 million, or $0.29 per diluted share, for the six months ended June
30, 2011.
Non-GAAP Results
Non-GAAP net earnings for the second
quarter of 2012 were $4.0 million, or $0.23 per diluted share, compared
to non-GAAP net earnings of $3.3 million, or $0.19 per diluted share, in
the second quarter of 2011. For the six months ended June 30, 2012, the
company reported non-GAAP net earnings of $6.9 million, or $0.40 per
diluted share, compared to non-GAAP net earnings of $5.5 million, or
$0.36 per diluted share, for the six months ended June 30, 2011. A
detailed reconciliation between GAAP and non-GAAP information is
contained in the tables included herein.
Datalink’s results for the first two quarters of 2012 include the
additional 3.3 million common shares issued by the company in connection
with the follow-on stock offering in March 2011 and the results of
operations from the acquisition of Midwave Corporation, which was
completed on October 3, 2011.
Highlights of the quarter and six months ended June 30, 2012, include:
-
Record second quarter and first six month revenues and earnings.
-
Continuing improvement in non-GAAP operating margin, reaching 5.6% in
second quarter 2012 compared to 4.1% in the previous quarter.
-
Record $42.7 million combined customer support and professional
services revenues in second quarter 2012, up 29% from second quarter
2011 and 10% from first quarter 2012. Second quarter professional
services revenues alone were up 17% from first quarter 2012 and 100%
from the comparable quarter in 2011.
-
Continued growth in customers who did over $1 million of business with
the company from 15 in second quarter 2011 to 22 in second quarter
2012.
-
A 31% second quarter increase in virtual data center (VDC) sales, with
24 VDC projects valued at $21.7 million in second quarter 2012
compared to 17 VDC projects valued at $16.6 million in first quarter
2012.
-
Achievement of Flexpod Premium Partner status from Cisco and NetApp,
becoming the first North American channel partner to achieve the new
certification.
-
Introduction of new managed monitoring and managed backup services,
which are among the latest initiatives to increase margins by
expanding the company’s services portfolio.
“We turned in a solid revenue and earnings performance in the first half
of 2012, and our pipeline continues to grow because of rising demand for
modern data center infrastructures. At the same time, longer sales
cycles that we began to see the last month of the quarter impacted our
second quarter revenue. Companies are scrutinizing large capital
expenditures more carefully than in the past, and we expect that pattern
to continue for the remainder of the year,” said Paul Lidsky, Datalink’s
president and CEO. “We have taken that into account in our third-quarter
guidance.”
Outlook
Based on the company’s current backlog, sales
pipeline and lengthening sales cycles, the company projects revenues of
$117 million to $122 million for the third quarter of 2012 compared to
$90.2 million for the third quarter of 2011. This represents an increase
in expected revenues of between 30% and 35%. The company expects third
quarter 2012 net earnings to be between $0.16 and $0.21 per diluted
share on a GAAP basis, and net earnings of between $0.20 and $0.25 per
diluted share on a non-GAAP basis. This compares to net earnings of
$0.16 per diluted share and $0.21 per diluted share on a GAAP and
non-GAAP basis, respectively, for the same period in 2011.
Non-GAAP earnings per share exclude the effect of acquisition accounting
adjustments from the Incentra acquisition to deferred revenue and costs,
integration and transaction costs related to the Midwave acquisition,
stock-based compensation expense, amortization of intangible assets, and
the related effects on income taxes. The company estimates this total
effect will be approximately $0.04 per diluted share for the third
quarter of 2012.
Conference Call and Webcast Today
Datalink will hold a conference call today at 4:00 p.m. Central Standard
Time, during which Datalink's president and chief executive officer,
Paul Lidsky, and vice president of finance and chief financial officer,
Greg Barnum, will discuss company results and provide a business
overview. Participants can access the conference call by dialing (877)
277-9804. Participants will be asked to identify the Datalink conference
call and provide the designated identification number (96687978).
A live Webcast of the conference call can be viewed via Datalink’s
website at www.datalink.com.
About Datalink
A complete data center solutions and services provider for Fortune 500
and mid-tier enterprises, Datalink transforms data centers so they
become more efficient, manageable and responsive to changing business
needs. Datalink helps leverage and protect storage, server, and network
investments with a focus on long-term value, offering a full lifecycle
of services, from consulting and design to implementation, management
and support. Datalink solutions span virtualization
and consolidation, data
storage and protection, advanced
networks, and business
continuity. Each delivers measurable performance gains and maximizes
the business value of IT. For more information, call 800.448.6314 or
visit www.datalink.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe
harbor” for certain forward-looking statements. This press release
contains forward-looking statements, including our internal projections
of anticipated results for the third quarter of 2012, which reflect our
views regarding future events and financial performance. These
forward-looking statements are subject to certain risks and
uncertainties, including those identified below, which could cause
actual results to differ materially from historical results or those
anticipated. The words “aim,” “believe,” “expect,” “anticipate,”
“intend,” “estimate,” “project,” “should” and other expressions which
indicate future events and trends identify forward-looking statements.
Actual future results and trends may differ materially from historical
results or those anticipated depending upon a variety of factors,
including, but not limited to: the level of continuing demand for
storage, including the effects of current economic and credit
conditions; competition and pricing pressures and timing of our
installations that may adversely affect our revenues and profits; the
length of our sales cycle; fixed employment costs that may impact
profitability if we suffer revenue shortfalls; revenue recognition
policies that may unpredictably defer reporting of our revenues; our
ability to hire and retain key technical and sales personnel; our
dependence on key suppliers; our ability to adapt to rapid technological
change; risks associated with integrating our acquisition of Midwave, as
well as possible future acquisitions; fluctuations in our quarterly
operating results; future changes in applicable accounting rules; and
volatility in our stock price. Further, our revenues for any particular
quarter are not necessarily reflected by our backlog of contracted
orders, which also may fluctuate unpredictably. We cannot assure that we
can grow or maintain our revenue and backlog from current levels.
Additional factors that may cause actual results to differ from our
assumptions and expectations include those set forth in our most recent
filing on Form 10-K filed with the Securities and Exchange Commission.
Any forward-looking statement made by us in this press release is based
only on information currently available to us and speaks only as of the
date on which it is made. We undertake no obligation to publicly update
any forward-looking statement, whether written or oral, that may be made
from time to time, whether as a result of new information, future
developments or otherwise.
Non-GAAP Details
Non-GAAP financial measures exclude the impact from acquisition
accounting adjustments to deferred revenue and costs, stock-based
compensation expense, amortization of acquisition intangible assets,
integration and transaction costs related to acquisitions and the
related effects on income taxes. These non-GAAP measures are not in
accordance with, or an alternative for measures prepared in accordance
with, GAAP and may be different from non-GAAP measures used by other
companies. In addition, these non-GAAP measures are not based on any
comprehensive set of accounting rules or principles. We believe that
non-GAAP measures have limitations in that they do not reflect all of
the amounts associated with our results of operations as determined in
accordance with GAAP and that these measures should only be used to
evaluate our results of operations in conjunction with the corresponding
GAAP measures.
These non-GAAP financial measures facilitate management's internal
comparisons to our historical operating results and comparisons to
competitors' operating results. We include these non-GAAP financial
measures in our earnings announcement because we believe they are useful
to investors in allowing for greater transparency with respect to
supplemental information used by management in its financial and
operational decision making, such as employee compensation planning. We
believe that the presentation of these non-GAAP measures when shown in
conjunction with the corresponding GAAP measures provides useful
information to investors and management regarding financial and business
trends relating to our financial condition and results of operations.
|
|
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|
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DATALINK CORPORATION
|
|
STATEMENTS OF OPERATIONS
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
2012
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
|
|
$
|
77,294
|
|
|
|
$
|
56,540
|
|
|
$
|
157,534
|
|
|
|
$
|
112,140
|
|
Services
|
|
|
|
42,748
|
|
|
|
|
32,941
|
|
|
|
81,596
|
|
|
|
|
63,035
|
|
Total net sales
|
|
|
|
120,042
|
|
|
|
|
89,481
|
|
|
|
239,130
|
|
|
|
|
175,175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of products
|
|
|
|
59,805
|
|
|
|
|
42,967
|
|
|
|
122,389
|
|
|
|
|
85,193
|
|
Cost of services
|
|
|
|
32,204
|
|
|
|
|
24,835
|
|
|
|
61,382
|
|
|
|
|
47,548
|
|
Total cost of sales
|
|
|
|
92,009
|
|
|
|
|
67,802
|
|
|
|
183,771
|
|
|
|
|
132,741
|
|
Gross profit
|
|
|
|
28,033
|
|
|
|
|
21,679
|
|
|
|
55,359
|
|
|
|
|
42,434
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
|
|
12,220
|
|
|
|
|
9,404
|
|
|
|
24,777
|
|
|
|
|
18,561
|
|
General and administrative
|
|
|
|
4,628
|
|
|
|
|
3,695
|
|
|
|
9,352
|
|
|
|
|
7,524
|
|
Engineering
|
|
|
|
5,155
|
|
|
|
|
3,818
|
|
|
|
10,949
|
|
|
|
|
8,205
|
|
Integration and transaction costs
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
20
|
|
|
|
|
-
|
|
Amortization of intangibles
|
|
|
|
619
|
|
|
|
|
383
|
|
|
|
1,238
|
|
|
|
|
765
|
|
Total operating expenses
|
|
|
|
22,622
|
|
|
|
|
17,300
|
|
|
|
46,336
|
|
|
|
|
35,055
|
|
Earnings from operations
|
|
|
|
5,411
|
|
|
|
|
4,379
|
|
|
|
9,023
|
|
|
|
|
7,379
|
|
Interest income (expense), net
|
|
|
|
(2
|
)
|
|
|
|
1
|
|
|
|
(12
|
)
|
|
|
|
4
|
|
Earnings before income taxes
|
|
|
|
5,409
|
|
|
|
|
4,380
|
|
|
|
9,011
|
|
|
|
|
7,383
|
|
Income tax expense
|
|
|
|
2,190
|
|
|
|
|
1,683
|
|
|
|
3,631
|
|
|
|
|
2,938
|
|
Net earnings
|
|
|
$
|
3,219
|
|
|
|
$
|
2,697
|
|
|
$
|
5,380
|
|
|
|
$
|
4,445
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
$
|
0.19
|
|
|
|
$
|
0.16
|
|
|
$
|
0.32
|
|
|
|
$
|
0.30
|
|
Diluted
|
|
|
$
|
0.18
|
|
|
|
$
|
0.16
|
|
|
$
|
0.31
|
|
|
|
$
|
0.29
|
|
Weighted average common shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
17,053
|
|
|
|
|
16,357
|
|
|
|
17,012
|
|
|
|
|
15,006
|
|
Diluted
|
|
|
|
17,445
|
|
|
|
|
16,840
|
|
|
|
17,383
|
|
|
|
|
15,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DATALINK CORPORATION
|
|
BALANCE SHEETS
|
|
(In thousands, except share data)
|
|
|
|
|
|
|
June 30,
|
|
|
December 31,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
|
|
(Unaudited)
|
|
|
|
|
Assets
|
|
Current assets
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
23,533
|
|
|
$
|
18,947
|
|
Short term investments
|
|
|
|
596
|
|
|
|
3,486
|
|
Accounts receivable, net
|
|
|
|
85,980
|
|
|
|
102,289
|
|
Inventories
|
|
|
|
2,208
|
|
|
|
1,736
|
|
Current deferred customer support contract costs
|
|
|
|
70,575
|
|
|
|
62,901
|
|
Inventories shipped but not installed
|
|
|
|
5,333
|
|
|
|
9,779
|
|
Income tax receivable
|
|
|
|
1,276
|
|
|
|
405
|
|
Other current assets
|
|
|
|
647
|
|
|
|
1,169
|
|
Total current assets
|
|
|
|
190,148
|
|
|
|
200,712
|
|
Property and equipment, net
|
|
|
|
5,071
|
|
|
|
3,453
|
|
Goodwill
|
|
|
|
32,446
|
|
|
|
32,446
|
|
Finite life intangibles, net
|
|
|
|
7,797
|
|
|
|
9,035
|
|
Deferred customer support contract costs non-current
|
|
|
|
36,021
|
|
|
|
28,785
|
|
Deferred tax asset
|
|
|
|
3,159
|
|
|
|
3,159
|
|
Other assets
|
|
|
|
287
|
|
|
|
361
|
|
Total assets
|
|
|
$
|
274,929
|
|
|
$
|
277,951
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity
|
|
Current liabilities
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
$
|
37,522
|
|
|
$
|
63,292
|
|
Accrued commissions
|
|
|
|
5,143
|
|
|
|
5,069
|
|
Accrued sales and use tax
|
|
|
|
1,217
|
|
|
|
2,574
|
|
Accrued expenses, other
|
|
|
|
5,082
|
|
|
|
5,209
|
|
Current deferred tax liability
|
|
|
|
7,459
|
|
|
|
7,459
|
|
Customer deposits
|
|
|
|
2,030
|
|
|
|
2,145
|
|
Current deferred revenue from customer support contracts
|
|
|
|
85,649
|
|
|
|
76,998
|
|
Other current liabilities
|
|
|
|
218
|
|
|
|
85
|
|
Total current liabilities
|
|
|
|
144,320
|
|
|
|
162,831
|
|
Deferred revenue from customer support contracts non-current
|
|
|
|
42,872
|
|
|
|
34,740
|
|
Other liabilities non-current
|
|
|
|
712
|
|
|
|
195
|
|
Total liabilities
|
|
|
|
187,904
|
|
|
|
197,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity
|
|
|
|
|
|
|
|
Common stock, $.001 par value, 50,000,000 shares authorized,
18,064,234 and 17,899,171 shares issued and outstanding as of June
30, 2012 and December 31, 2011, respectively
|
|
|
|
18
|
|
|
|
18
|
|
Additional paid-in capital
|
|
|
|
67,673
|
|
|
|
66,213
|
|
Retained earnings
|
|
|
|
19,334
|
|
|
|
13,954
|
|
Total stockholders' equity
|
|
|
|
87,025
|
|
|
|
80,185
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
274,929
|
|
|
$
|
277,951
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DATALINK CORPORATION
|
|
RECONCILIATION BETWEEN GAAP AND NON-GAAP NET INCOME
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
2012
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings from operations on a GAAP basis
|
|
|
$
|
5,411
|
|
|
|
$
|
4,379
|
|
|
|
$
|
9,023
|
|
|
|
$
|
7,379
|
|
|
GAAP operating margin
|
|
|
|
4.5
|
%
|
|
|
|
4.9
|
%
|
|
|
|
3.8
|
%
|
|
|
|
4.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting adjustment to Incentra deferred revenue and
cost, net
|
|
|
|
8
|
|
|
|
|
33
|
|
|
|
|
20
|
|
|
|
|
69
|
|
|
Total gross margin adjustments
|
|
|
|
8
|
|
|
|
|
33
|
|
|
|
|
20
|
|
|
|
|
69
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock based compensation expense included in sales and marketing
|
|
|
|
209
|
|
|
|
|
87
|
|
|
|
|
372
|
|
|
|
|
117
|
|
|
Stock based compensation expense included in general and
administrative
|
|
|
|
421
|
|
|
|
|
312
|
|
|
|
|
708
|
|
|
|
|
608
|
|
|
Stock based compensation expense included in engineering
|
|
|
|
95
|
|
|
|
|
101
|
|
|
|
|
235
|
|
|
|
|
200
|
|
|
Integration and transaction costs
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
|
20
|
|
|
|
|
-
|
|
|
Amortization of intangible assets
|
|
|
|
619
|
|
|
|
|
383
|
|
|
|
|
1,238
|
|
|
|
|
765
|
|
|
Total operating expense adjustments
|
|
|
|
1,344
|
|
|
|
|
883
|
|
|
|
|
2,573
|
|
|
|
|
1,690
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings from operations
|
|
|
|
6,763
|
|
|
|
|
5,295
|
|
|
|
|
11,616
|
|
|
|
|
9,138
|
|
|
Non-GAAP operating margin
|
|
|
|
5.6
|
%
|
|
|
|
5.9
|
%
|
|
|
|
4.9
|
%
|
|
|
|
5.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net
|
|
|
|
(2
|
)
|
|
|
|
1
|
|
|
|
|
(12
|
)
|
|
|
|
4
|
|
|
Income tax expense impact including Non-GAAP items
|
|
|
|
2,738
|
|
|
|
|
2,031
|
|
|
|
|
4,700
|
|
|
|
|
3,638
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net earnings
|
|
|
$
|
4,023
|
|
|
|
$
|
3,265
|
|
|
|
$
|
6,904
|
|
|
|
$
|
5,504
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net earnings per share - Basic
|
|
|
$
|
0.24
|
|
|
|
$
|
0.20
|
|
|
|
$
|
0.41
|
|
|
|
$
|
0.37
|
|
|
Non-GAAP net earnings per share - Diluted
|
|
|
$
|
0.23
|
|
|
|
$
|
0.19
|
|
|
|
$
|
0.40
|
|
|
|
$
|
0.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in non-GAAP per share calculation - Basic
|
|
|
|
17,053
|
|
|
|
|
16,357
|
|
|
|
|
17,012
|
|
|
|
|
15,006
|
|
|
Shares used in non-GAAP per share calculation - Diluted
|
|
|
|
17,445
|
|
|
|
|
16,840
|
|
|
|
|
17,383
|
|
|
|
|
15,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DATALINK CORPORATION
|
|
STATEMENT OF CASH FLOWS
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
Net earnings
|
|
|
$
|
5,380
|
|
|
|
$
|
4,445
|
|
|
Adjustments to reconcile net earnings to net cash provided by
operating activities:
|
|
|
|
|
|
|
|
Benefit for bad debts
|
|
|
|
(4
|
)
|
|
|
|
(4
|
)
|
|
Depreciation
|
|
|
|
861
|
|
|
|
|
478
|
|
|
Amortization of finite lived intangibles
|
|
|
|
1,238
|
|
|
|
|
765
|
|
|
Stock based compensation expense
|
|
|
|
1,316
|
|
|
|
|
925
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
Accounts receivable, net
|
|
|
|
16,313
|
|
|
|
|
7,828
|
|
|
Inventories
|
|
|
|
3,974
|
|
|
|
|
3,108
|
|
|
Deferred costs/revenues/customer deposits, net
|
|
|
|
1,758
|
|
|
|
|
1,709
|
|
|
Accounts payable
|
|
|
|
(25,770
|
)
|
|
|
|
(12,592
|
)
|
|
Accrued expenses
|
|
|
|
(1,410
|
)
|
|
|
|
(955
|
)
|
|
Income tax payable (receivable)
|
|
|
|
(871
|
)
|
|
|
|
999
|
|
|
Other
|
|
|
|
1,246
|
|
|
|
|
(133
|
)
|
|
Net cash provided by operating activities
|
|
|
|
4,031
|
|
|
|
|
6,573
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
Purchase of investments
|
|
|
|
-
|
|
|
|
|
(9,978
|
)
|
|
Maturities of investments
|
|
|
|
596
|
|
|
|
|
249
|
|
|
Sale of investments
|
|
|
|
2,294
|
|
|
|
|
-
|
|
|
Purchases of property and equipment
|
|
|
|
(2,479
|
)
|
|
|
|
(610
|
)
|
|
Net cash provided by (used in) investing activities
|
|
|
|
411
|
|
|
|
|
(10,339
|
)
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
Proceeds from stock offering
|
|
|
|
-
|
|
|
|
|
17,453
|
|
|
Excess tax from stock compensation
|
|
|
|
553
|
|
|
|
|
113
|
|
|
Proceeds from issuance of common stock from option exercise
|
|
|
|
321
|
|
|
|
|
494
|
|
|
Tax withholding payments reimbursed by restricted stock
|
|
|
|
(730
|
)
|
|
|
|
-
|
|
|
Net cash provided by financing activities
|
|
|
|
144
|
|
|
|
|
18,060
|
|
|
|
|
|
|
|
|
|
|
Increase in cash and cash equivalents
|
|
|
|
4,586
|
|
|
|
|
14,294
|
|
|
Cash and cash equivalents, beginning of period
|
|
|
|
18,947
|
|
|
|
|
8,988
|
|
|
Cash and cash equivalents, end of period
|
|
|
$
|
23,533
|
|
|
|
$
|
23,282
|
|
|
|
|
|
|
|
|
|
|
Supplemental cash flow information:
|
|
|
|
|
|
|
|
Cash paid for income taxes
|
|
|
$
|
3,949
|
|
|
|
$
|
1,942
|
|
|
Cash received for income tax refunds
|
|
|
$
|
-
|
|
|
|
$
|
117
|
|
Source: Datalink
Datalink
Investors & Analysts:
Greg
Barnum, 952-279-4816
Vice President and CFO
Email: gbarnum@datalink.com
or
Media
& Alliances:
Suzanne Gallagher, 720-566-5110
SVP of
Marketing
Email: sgallagher@datalink.com
or
Investor
Relations:
Kim Payne, 952-279-4794
Investor Relations
Coordinator
Fax: 952-944-7869
Email: einvestor@datalink.com
website:
www.datalink.com
|
