ePlus inc. (NASDAQ:PLUS) Q4 2023 Results Conference Call May 24, 2023 4:30 PM ET
Company Participants
Kley Parkhurst - Senior Vice President
Mark Marron - Chief Executive Officer & President
Elaine Marion - Chief Financial Officer
Erica Stoecker - General Counsel
Conference Call Participants
Jesse Wilson - William Blair
Greg Burns - Sidoti
Matt Sheerin - Stifel
Operator
Good day, ladies and gentlemen, and welcome to the ePlus Earnings Results Conference Call. As a reminder, this conference is being recorded.
And I would like to introduce your host for today's conference, Mr. Kley Parkhurst, SVP. Sir, you may begin.
Kley Parkhurst
Thank you for joining us today. On the call is Mark Marron, CEO and President; Elaine Marion, CFO; and Erica Stoecker, General Counsel.
I want to take a moment to remind you that the statements we make this afternoon that are not historical facts may be deemed to be forward-looking statements and are based on management's current plans, estimates and projections.
Actual and anticipated future results may vary materially due to certain risks and uncertainties detailed on the earnings release we issued this afternoon and our periodic filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K, quarterly reports on Form 10-Q and in any other documents that we may file with the SEC.
Any forward-looking statement speaks only as of the date of which the statement is made, and the Company undertakes no responsibility to update any of these forward-looking statements in light of new information, future events or otherwise. In addition, we will be using certain non-GAAP measures during the call. We've included a GAAP financial reconciliation in our earnings release, which is posted on the Investor Information section of our website at www.eplus.com.
I'd now like to turn the call over to Mark Marron. Mark?
Mark Marron
Thank you, Kley, and thank you everyone for participating in today's call to discuss our fourth quarter and fiscal 2023 results. We were very pleased with our fourth quarter and year-end results. For fiscal 2023, net sales increased 13.5% to $2.1 billion, net income increased 13%, and diluted earnings per share grew 14%. We achieved this solid growth even as we made significant investments in our team to enhance our capabilities and capture future growth opportunities despite challenges in the IT supply chain.
Our gross billings grew to $3.1 billion, a nearly 20% increase over the prior year. These financial achievements underscore the continued success of our growth strategy, innovation and execution where we capture incremental market share by focusing on opportunities in higher-value and higher-growth solution areas, such as workplace transformation, artificial intelligence and our core offerings of security, networking and cloud.