Intrinsic value of PCM - PCMI

Previous Close

$18.82

  Intrinsic Value

$6.82

stock screener

  Rating & Target

str. sell

-64%

Previous close

$18.82

 
Intrinsic value

$6.82

 
Up/down potential

-64%

 
Rating

str. sell

We calculate the intrinsic value of PCMI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,237
  2,289
  2,348
  2,414
  2,487
  2,567
  2,655
  2,749
  2,851
  2,961
  3,078
  3,202
  3,335
  3,477
  3,627
  3,786
  3,954
  4,132
  4,320
  4,518
  4,728
  4,949
  5,181
  5,427
  5,685
  5,957
  6,243
  6,545
  6,862
  7,195
Variable operating expenses, $m
  1,313
  1,343
  1,377
  1,416
  1,458
  1,505
  1,556
  1,611
  1,671
  1,734
  1,793
  1,865
  1,943
  2,025
  2,113
  2,205
  2,303
  2,407
  2,516
  2,632
  2,754
  2,883
  3,018
  3,161
  3,312
  3,470
  3,637
  3,812
  3,997
  4,191
Fixed operating expenses, $m
  935
  956
  977
  998
  1,020
  1,043
  1,066
  1,089
  1,113
  1,137
  1,162
  1,188
  1,214
  1,241
  1,268
  1,296
  1,325
  1,354
  1,384
  1,414
  1,445
  1,477
  1,509
  1,543
  1,576
  1,611
  1,647
  1,683
  1,720
  1,758
Total operating expenses, $m
  2,248
  2,299
  2,354
  2,414
  2,478
  2,548
  2,622
  2,700
  2,784
  2,871
  2,955
  3,053
  3,157
  3,266
  3,381
  3,501
  3,628
  3,761
  3,900
  4,046
  4,199
  4,360
  4,527
  4,704
  4,888
  5,081
  5,284
  5,495
  5,717
  5,949
Operating income, $m
  -11
  -10
  -6
  0
  8
  19
  33
  49
  68
  89
  122
  149
  178
  211
  246
  284
  326
  371
  420
  472
  529
  589
  654
  723
  797
  876
  960
  1,050
  1,145
  1,246
EBITDA, $m
  9
  10
  14
  20
  29
  41
  55
  71
  90
  112
  136
  163
  193
  226
  262
  302
  344
  390
  440
  493
  550
  612
  677
  748
  823
  903
  988
  1,079
  1,176
  1,279
Interest expense (income), $m
  5
  14
  14
  15
  16
  17
  18
  19
  20
  22
  23
  25
  27
  29
  31
  33
  35
  38
  40
  43
  46
  49
  52
  55
  59
  62
  66
  70
  75
  79
  84
Earnings before tax, $m
  -24
  -24
  -21
  -16
  -9
  1
  14
  28
  46
  65
  97
  122
  150
  180
  213
  249
  289
  331
  377
  427
  480
  537
  599
  665
  735
  810
  890
  975
  1,066
  1,162
Tax expense, $m
  0
  0
  0
  0
  0
  0
  4
  8
  12
  18
  26
  33
  40
  49
  58
  67
  78
  89
  102
  115
  130
  145
  162
  179
  198
  219
  240
  263
  288
  314
Net income, $m
  -24
  -24
  -21
  -16
  -9
  1
  10
  21
  33
  48
  71
  89
  109
  131
  156
  182
  211
  242
  275
  312
  351
  392
  437
  485
  536
  591
  650
  712
  778
  848

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  755
  772
  792
  815
  839
  866
  896
  928
  962
  999
  1,039
  1,081
  1,126
  1,173
  1,224
  1,278
  1,334
  1,394
  1,458
  1,525
  1,596
  1,670
  1,749
  1,832
  1,919
  2,011
  2,107
  2,209
  2,316
  2,428
Adjusted assets (=assets-cash), $m
  755
  772
  792
  815
  839
  866
  896
  928
  962
  999
  1,039
  1,081
  1,126
  1,173
  1,224
  1,278
  1,334
  1,394
  1,458
  1,525
  1,596
  1,670
  1,749
  1,832
  1,919
  2,011
  2,107
  2,209
  2,316
  2,428
Revenue / Adjusted assets
  2.963
  2.965
  2.965
  2.962
  2.964
  2.964
  2.963
  2.962
  2.964
  2.964
  2.962
  2.962
  2.962
  2.964
  2.963
  2.962
  2.964
  2.964
  2.963
  2.963
  2.962
  2.963
  2.962
  2.962
  2.962
  2.962
  2.963
  2.963
  2.963
  2.963
Average production assets, $m
  116
  119
  122
  126
  129
  133
  138
  143
  148
  154
  160
  167
  173
  181
  189
  197
  206
  215
  225
  235
  246
  257
  269
  282
  296
  310
  325
  340
  357
  374
Working capital, $m
  204
  208
  214
  220
  226
  234
  242
  250
  259
  269
  280
  291
  304
  316
  330
  345
  360
  376
  393
  411
  430
  450
  472
  494
  517
  542
  568
  596
  624
  655
Total debt, $m
  263
  277
  293
  312
  332
  355
  379
  406
  434
  465
  497
  532
  569
  609
  651
  695
  742
  792
  845
  900
  959
  1,020
  1,085
  1,154
  1,226
  1,302
  1,382
  1,466
  1,555
  1,648
Total liabilities, $m
  625
  640
  656
  674
  695
  717
  742
  768
  797
  827
  860
  895
  932
  972
  1,013
  1,058
  1,105
  1,155
  1,207
  1,263
  1,321
  1,383
  1,448
  1,516
  1,589
  1,665
  1,745
  1,829
  1,917
  2,011
Total equity, $m
  130
  133
  136
  140
  144
  149
  154
  160
  166
  172
  179
  186
  194
  202
  211
  220
  230
  240
  251
  262
  274
  287
  301
  315
  330
  346
  362
  380
  398
  418
Total liabilities and equity, $m
  755
  773
  792
  814
  839
  866
  896
  928
  963
  999
  1,039
  1,081
  1,126
  1,174
  1,224
  1,278
  1,335
  1,395
  1,458
  1,525
  1,595
  1,670
  1,749
  1,831
  1,919
  2,011
  2,107
  2,209
  2,315
  2,429
Debt-to-equity ratio
  2.020
  2.080
  2.150
  2.230
  2.300
  2.380
  2.460
  2.540
  2.620
  2.700
  2.780
  2.860
  2.940
  3.020
  3.090
  3.160
  3.230
  3.300
  3.370
  3.430
  3.490
  3.550
  3.610
  3.660
  3.720
  3.770
  3.810
  3.860
  3.900
  3.950
Adjusted equity ratio
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -24
  -24
  -21
  -16
  -9
  1
  10
  21
  33
  48
  71
  89
  109
  131
  156
  182
  211
  242
  275
  312
  351
  392
  437
  485
  536
  591
  650
  712
  778
  848
Depreciation, amort., depletion, $m
  20
  20
  21
  21
  21
  21
  22
  22
  23
  23
  14
  14
  15
  16
  16
  17
  18
  19
  20
  20
  21
  22
  23
  25
  26
  27
  28
  30
  31
  33
Funds from operations, $m
  -4
  -4
  -1
  5
  12
  22
  32
  43
  56
  71
  85
  104
  124
  147
  172
  199
  229
  261
  295
  332
  372
  415
  461
  510
  562
  618
  678
  741
  809
  881
Change in working capital, $m
  4
  5
  5
  6
  7
  7
  8
  9
  9
  10
  11
  11
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  22
  24
  25
  26
  27
  29
  30
Cash from operations, $m
  -8
  -9
  -6
  -1
  6
  15
  24
  34
  47
  61
  74
  92
  112
  134
  158
  185
  213
  244
  278
  314
  353
  395
  439
  487
  539
  593
  652
  714
  780
  851
Maintenance CAPEX, $m
  -10
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -28
  -30
  -31
New CAPEX, $m
  -3
  -3
  -3
  -3
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
Cash from investing activities, $m
  -13
  -13
  -13
  -14
  -15
  -15
  -17
  -17
  -17
  -19
  -19
  -20
  -21
  -22
  -24
  -24
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
Free cash flow, $m
  -21
  -21
  -20
  -16
  -9
  0
  8
  18
  29
  42
  55
  72
  91
  112
  135
  160
  187
  217
  249
  284
  322
  362
  405
  451
  501
  553
  610
  670
  734
  802
Issuance/(repayment) of debt, $m
  13
  14
  16
  18
  20
  22
  24
  26
  28
  31
  33
  35
  37
  39
  42
  44
  47
  50
  53
  55
  59
  62
  65
  69
  72
  76
  80
  84
  89
  93
Issuance/(repurchase) of shares, $m
  27
  27
  25
  20
  13
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  40
  41
  41
  38
  33
  26
  24
  26
  28
  31
  33
  35
  37
  39
  42
  44
  47
  50
  53
  55
  59
  62
  65
  69
  72
  76
  80
  84
  89
  93
Total cash flow (excl. dividends), $m
  18
  20
  22
  23
  24
  26
  32
  44
  58
  73
  88
  107
  128
  151
  177
  204
  234
  267
  302
  340
  380
  423
  470
  520
  573
  629
  690
  754
  823
  895
Retained Cash Flow (-), $m
  -27
  -27
  -25
  -20
  -13
  -5
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -17
  -18
  -19
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -9
  -7
  -3
  3
  12
  21
  27
  38
  52
  67
  81
  100
  120
  143
  168
  195
  225
  257
  291
  328
  368
  411
  456
  505
  558
  614
  673
  737
  804
  876
Discount rate, %
  11.00
  11.55
  12.13
  12.73
  13.37
  14.04
  14.74
  15.48
  16.25
  17.06
  17.92
  18.81
  19.75
  20.74
  21.78
  22.87
  24.01
  25.21
  26.47
  27.80
  29.19
  30.65
  32.18
  33.79
  35.48
  37.25
  39.11
  41.07
  43.12
  45.28
PV of cash for distribution, $m
  -8
  -6
  -2
  2
  6
  10
  10
  12
  13
  14
  13
  13
  12
  10
  9
  7
  6
  4
  3
  2
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  89.4
  79.9
  72.2
  66.7
  63.3
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4
  62.4

PCM, Inc. is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company's segments include Commercial, Public Sector, Canada and United Kingdom. The Commercial segment sells complex technology solutions to commercial businesses in the United States. The Public Sector segment consists of sales made to federal, state and local governments, as well as educational institutions. The Public Sector segment utilizes a phone and field relationship-based selling model, as well as contract and bid business development teams and an online extranet. The Canada segment consists of sales made to customers in the Canadian market. Its United Kingdom segment consist its subsidiary, PCM Technology Solutions UK, Ltd., which serves as its hub for the United Kingdom and the rest of Europe.

FINANCIAL RATIOS  of  PCM (PCMI)

Valuation Ratios
P/E Ratio 12.5
Price to Sales 0.1
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 2.3
Price to Free Cash Flow 2.6
Growth Rates
Sales Growth Rate 35.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -83%
Cap. Spend. - 3 Yr. Gr. Rate -11.9%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 14.8%
Total Debt to Equity 107%
Interest Coverage 7
Management Effectiveness
Return On Assets 3.4%
Ret/ On Assets - 3 Yr. Avg. 0.6%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 0.5%
Return On Equity 15.1%
Return On Equity - 3 Yr. Avg. 1.4%
Asset Turnover 3.7
Profitability Ratios
Gross Margin 14.2%
Gross Margin - 3 Yr. Avg. 13.9%
EBITDA Margin 2.2%
EBITDA Margin - 3 Yr. Avg. 1.2%
Operating Margin 1.6%
Oper. Margin - 3 Yr. Avg. 0.4%
Pre-Tax Margin 1.3%
Pre-Tax Margin - 3 Yr. Avg. 0.2%
Net Profit Margin 0.8%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 37.9%
Eff/ Tax Rate - 3 Yr. Avg. 40.7%
Payout Ratio 0%

PCMI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PCMI stock intrinsic value calculation we used $2193.436 million for the last fiscal year's total revenue generated by PCM. The default revenue input number comes from 0001 income statement of PCM. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PCMI stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 11%, whose default value for PCMI is calculated based on our internal credit rating of PCM, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of PCM.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PCMI stock the variable cost ratio is equal to 58.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $915 million in the base year in the intrinsic value calculation for PCMI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for PCM.

Corporate tax rate of 27% is the nominal tax rate for PCM. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PCMI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PCMI are equal to 5.2%.

Life of production assets of 11.5 years is the average useful life of capital assets used in PCM operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PCMI is equal to 9.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $127.626 million for PCM - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 11.945 million for PCM is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of PCM at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ Does PCM Inc (NASDAQ:PCMI) Create Value For Shareholders?   [Oct-30-18 12:40PM  Simply Wall St.]
▶ PCM (PCMI) Surpasses Q3 Earnings Estimates   [Oct-24-18 06:20PM  Zacks]
▶ PCM: 3Q Earnings Snapshot   [05:14PM  Associated Press]
▶ PCM Named CRN® Triple Crown Award Winner   [09:00AM  Business Wire]
▶ Does PCM Inc (NASDAQ:PCMI) Go Up With The Market?   [Sep-10-18 11:35AM  Simply Wall St.]
▶ 7 Low Price-to-Sales Stocks With Favorable Growth Dynamics   [Aug-30-18 10:07AM  InvestorPlace]
▶ Nasdaq Crosses 8,000 Mark: Play 5 Top-Ranked Stocks   [Aug-28-18 02:49PM  InvestorPlace]
▶ 5 Value Stocks Hotter than Apple in 2018   [Aug-06-18 12:18PM  InvestorPlace]
▶ 5 Best Performing Stocks of July   [Aug-01-18 11:59AM  InvestorPlace]
▶ 5 Best Performing Stocks of July   [08:20AM  Zacks]
▶ PCM: 2Q Earnings Snapshot   [Jul-25-18 05:31PM  Associated Press]
▶ PCM to Release Q2 2018 Results Wednesday, July 25, 2018   [Jul-12-18 05:46PM  Business Wire]
▶ Is It Time To Buy PCM Inc (NASDAQ:PCMI)?   [Jun-26-18 08:05AM  Simply Wall St.]
▶ PCM Named to CRNs 2018 Solution Provider 500 List   [Jun-25-18 09:00AM  Business Wire]
▶ Can the Rally in PCM (PCMI) Shares Continue?   [Jun-15-18 08:48AM  Zacks]
▶ 5 Value Stocks With Enticing EV/EBITDA Ratios   [May-23-18 05:30PM  InvestorPlace]
▶ 5 Low Price-to-Book Value Stocks to Buy Now   [May-21-18 08:49AM  Zacks]
▶ PCM: 1Q Earnings Snapshot   [Apr-25-18 05:49PM  Associated Press]
▶ PCM to Release Q1 2018 Results April 25, 2018   [Apr-19-18 06:38PM  Business Wire]
▶ PCM Named to 2018 CRN® Tech Elite Solution Providers List   [Apr-03-18 09:00AM  Business Wire]
▶ PCM Named Most Valuable National Solutions Provider by ESET   [Mar-27-18 09:00AM  Business Wire]
▶ PCM Named Adobe 2017 Americas Partner of the Year   [Mar-12-18 09:00AM  Business Wire]
▶ PCM reports 4Q loss   [Mar-07-18 07:53PM  Associated Press]
▶ PCM to Release Q4 2017 Results March 7, 2018   [Feb-23-18 12:04AM  Business Wire]
▶ At $7.95, Is It Time To Buy PCM Inc (NASDAQ:PCMI)?   [Feb-12-18 08:16AM  Simply Wall St.]
▶ PCM UK Acquires Provista UK   [Jan-04-18 12:17AM  Business Wire]
▶ ETFs with exposure to PCM, Inc. : December 21, 2017   [Dec-21-17 11:42AM  Capital Cube]
▶ ETFs with exposure to PCM, Inc. : December 7, 2017   [Dec-07-17 02:26PM  Capital Cube]
▶ Wildfire Forces Cancellation of LD Micro Conference   [Dec-06-17 12:20PM  ACCESSWIRE]
▶ PCM Named Veritas Partner of the Year   [09:00AM  Business Wire]
▶ PCM reports 3Q loss   [Nov-06-17 04:43PM  Associated Press]
▶ PCM Reports Third Quarter Results   [04:03PM  Business Wire]
▶ PCM to Release Q3 2017 Results November 6, 2017   [Oct-30-17 06:21PM  Business Wire]
▶ PCM Named CRN® Triple Crown Award Winner   [Oct-10-17 09:00AM  GlobeNewswire]
▶ PCM to Present at Two Upcoming Conferences   [Sep-22-17 03:27PM  GlobeNewswire]
▶ PCM Named to 2017 CRN Fast Growth 150 List   [Aug-30-17 09:00AM  GlobeNewswire]
▶ PCM Announces Increase to Share Repurchase Program   [Aug-09-17 05:23PM  GlobeNewswire]
▶ PCM Ranked #2 on MSP 501   [Jul-31-17 09:00AM  GlobeNewswire]
▶ PCM posts 2Q profit   [Jul-26-17 11:08PM  Associated Press]
▶ PCM Reports Second Quarter Results   [04:02PM  GlobeNewswire]

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