08:29 AM EST, 03/06/2024 (MT Newswires) -- Converge Technology Solutions Corp. ( CTSDF ) , which lost 7.2% yesterday, on Wednesday reported fourth-quarter adjusted earnings of $38.2 million, or $0.19 per basic share, up from $32.9 million, or $0.16 per basic share, a year earlier.

Analysts polled by Capital IQ expected $0.14.

The company reported Q4 gross sales of $1.08 billion, up from $956.8 million a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $651.1 million, up from $640.9 million a year ago. Analysts surveyed by Capital IQ expected $708.8 million.

Adjusted EBITDA for Q4 was $46.5 million versus $43.1 million a year earlier.

The company's board declared a quarterly dividend of $0.01 per common share. The dividend will be paid on March 26 to shareholders of record at the close of business on March 12.

For the quarter ended March 31, the company is expecting gross profit of $170 million to $178 million and adjusted EBITDA of $40 million to $44 million.

For the fiscal year of 2024, the company is expecting gross profit of $735 million to $760 million and adjusted EBITDA of $185 million to $198 million.