1、2 0 2 2 A N N U A L R E P O R TPatricia Gallup Board Chair Timothy McGrath President and Chief Executive OfficerDear Shareholders,Customers,Industry Partners,and Co-workers,Connection achieved record performance in 2022,celebrating our 40th year in business with the same steadfast pursuit of innovat
2、ion and commitment to exceptional service that have defined our company since day one.Our team,united by a clear sense of purpose and shared values,helped customers in business,government,healthcare,and education design,deploy,and integrate the IT solutions they needed to adapt to evolving demands,w
3、ork environments,and economic conditions.Throughout an eventful year,our team remained focused on connecting customers with the technology and expertise required to overcome todays challenges and plan confidently for the future.Since the pandemic began,we have witnessed a significant shift in how cu
4、stomers adopt technology.Faced with an unavoidable disruption to operations,organizations embraced technology as an enabler of changecondensing a decade of digital transformation into mere years.This activity is reflected in our financial performance,as Connection generated annual sales of$3.1 billi
5、on in 2022,an increase of 8%year over year.Gross profit increased by 13.3%year over year,due to higher net sales,an increase in gross margin,and solid performance across data center and cloud solutions,security,and software.Connection Business Solutions,our SMB-focused subsidiary,achieved net sales
6、of$1.2 billion,Connection Enterprise Solutions recognized net sales of$1.3 billion,and Connection Public Sector Solutions generated net sales of$0.6 billion.Our diluted earnings per share was$3.37,up 27.2%year over year.This performance enabled Connection to return$8.9 million to shareholders in the