ePlus announced fiscal Q1/14 total revenues increased 6.0% to $259.3 million compared to $244.7 million in the quarter ended June 30, 2012. The company said net earnings decreased $0.2 million to $7.9 million in the quarter ended June 30, 2013, as compared to $8.1 million in the prior year.

Fully diluted earnings per common share decreased to $0.97 per share compared to $1.00 per share in the quarter ended June 30, 2012. Analysts polled by Thomson Financial had expected $1.08 earnings per share.

The following was excerpted from the news release on the Financing segment:

For the three months ended June 30, 2013, Financing segment revenue and earnings were $10.8 million and $3.8 million, respectively up 28.2% and 38.9% from $8.4 million and $2.7 million in the same quarter a year earlier. ePlus said the increase in revenues was primarily the result of net gains on sales of financial assets of $44.3 million during the fiscal first quarter.

The company said as of June 30, 2013, it had $138.3 million of investments in notes and leases, compared to $117.4 million at the end of the same period in 2012, an increase of 17.8%.

Phillip G. Norton, chairman, president and chief executive officer said, “Our expertise in today’s most in-demand solutions – including cloud, collaboration, big data, mobility, security and managed services – is continuing to resonate with customers. We believe that our total solution approach to meeting our customers’ needs differentiates ePlus from the competition.”

To read the ePlus news release click here.