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Joyce Mullen has been able to share Insight Enterprises’ latest Q4 and full-year results for the first time as CEO, with the channel player delivering a decent set of numbers.
The former Dell global channel chief stepped into the president and CEO position at Insight at the start of this year, filling the shoes of retiring CEO Ken Lamneck. She had already been North America president at the business for the past year, after joining the firm following a 21-year spell at Dell, with the last few running the channel for the vendor.
Just a couple of months into her tenure, the moment had come around for Q4 and full-year results, and the firm made it easy for her to give investors cheer, with net sales increasing 12% in the fourth quarter and 13% to $9.44bn for the full year.
“During the fourth quarter, our net sales were $2.6bn, representing record net sales in a quarter for Insight,” said Mullen. “We had hardware net sales growth of 13% and drove services gross profit growth of 14%, year over year, allowing us to maintain gross margin of 15%, which was consistent with the prior year quarter.”
Sales in EMEA increased by 6% year on year to $426.4m in Q4, and earnings from operations improved by 35% year over year, to $12.5m, or 2.9% of net sales. For the full year, sales improved by 10% to $1.7bn, and earnings from operations increased 16% to $46.9m.
“While we are proud of our accomplishments in 2021, we are focused on the opportunities ahead of us in 2022, as we strive to expand our reputation and capabilities as an industry recognised global solutions integrator,” she said.
“What really makes our go-to-market strategy impactful is the ability to expand to adjacencies within our areas of expertise. We have the ability to not only deliver immediate results for clients today, but to guide them through their longer-term digital transformation.”
The financial results come a day after the channel player released findings that showed there were plenty of growth opportunities to go after.
The firm found that the majority of enterprises were going through digital transformation.
“Digital transformation has become a priority for nearly every organisation, and this survey shows that the effort yields improvements on every factor measured,” said Stan Lequin, senior vice-president and general manager of solutions at Insight.
“Quality of service, user experience and business continuity lead the list, with 35-44% citing these benefits. But even increases in time to value and total addressable market were reported by one-third of respondents.”