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Wayside Tech reports 9 percent revenue increase, declares quarterly dividend

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Shrewsbury-based Wayside Technology Group Inc. announced Thursday its financial results for the first quarter that ended on March 31, 2014.

According to Wayside, revenue increased by 9 percent to $71.7 million, and income from operations increased 7 percent to $1.5 million, compared to the same period last year.

Gross profit for the quarter was $5.5 million, a 4 percent increase compared to $5.3 million for the first quarter of 2013, Wayside reported.

Wayside said net income and diluted earnings per share for the quarter were $1.1 million and 23 cents, respectively, compared to $1 million and 22 cents, respectively for the same time last year.

The company’s board of directors has also declared a quarterly dividend of 17 cents per share of its stock payable on May 16, 2014 to shareholders of record as of May 6, 2014, Wayside said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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