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SHREWSBURY, NJ -- (Marketwired) -- 07/30/15 -- Wayside Technology Group, Inc. (NASDAQ: WSTG)

                                                             Q2 2015:
                                                             ---------------
Revenue:                                                     $92.0 million
Income from operations:                                      $2.0 million
Diluted earnings per share:                                  $0.29 per share

                     Dividend declared - $0.17 per share

Wayside Technology Group, Inc. (NASDAQ: WSTG) today announced financial results for the second quarter ended June 30, 2015. The results will be discussed in a conference call to be held on Friday, July 31, 2015 at 10:00 a.m. EDT. The dial-in telephone number is (866) 847-7864 and the pass code is "WSTG." This conference call will be webcast by NASDAQ OMX and can be accessed at Wayside Technology's Web site at www.waysidetechnology.com/earnings-call.

Cash and long term receivables amounted to $24.4 million, representing 63% of equity as of June 30, 2015. Working capital amounted to $32.4 million, representing 84% of equity as of June 30, 2015.

"I am pleased to report solid financial results for Q2 2015. Overall, revenue increased 9% and Gross Profit increased 5% over the same period last year, due to continued strong performance from our Lifeboat Distribution team," said Simon F. Nynens, Chairman and Chief Executive Officer. "I am also pleased to announce that we have recently opened a Lifeboat Distribution sales office in Mesa, Arizona to enhance customer service for our Mid-west and West Coast customers."

Net sales for the second quarter ended June 30, 2015 increased 9% or $7.6 million to $92.0 million compared to $84.4 million for the same period in 2014. Total sales for the second quarter of 2015 for our Lifeboat Distribution segment were $81.3 million compared to $70.0 million in the second quarter of 2014, representing an increase of $11.3 million or 16%. Total sales for the second quarter of 2015 for our TechXtend segment were $10.7 million compared to $14.4 million in the second quarter of 2014, representing a decrease of $3.7 million or 26%.

The 16% increase in net sales for the Lifeboat Distribution segment was mainly a result of the addition of several key product lines and our ongoing strategy of strengthening of our account penetration. The 26% decrease in net sales in the TechXtend segment was primarily due to a decrease in both extended payment terms sales transactions and large transactions as compared to the second quarter ended June 30, 2015.

Gross Profit for the second quarter ended June 30, 2015 was $6.4 million, a 5% increase as compared to $6.1 million for the second quarter of 2014. Gross profit for our Lifeboat Distribution segment in the second quarter of 2015 was $5.1 million compared to $4.6 million for the second quarter of 2014, representing an 11% increase. The increase in gross profit for the Lifeboat Distribution segment was primarily due to higher sales volume. Gross profit for our TechXtend segment in the second quarter of 2015 was $1.3 million compared to $1.5 million for the second quarter of 2014, representing a 14% decrease. This decrease for the TechXtend segment was primarily due to the decreased sales volume in the current year.

Gross profit margin (gross profit as a percentage of net sales) for the second quarter ended June 30, 2015 was 7.0% compared to 7.3% for the second quarter of 2014. Gross profit margin for our Lifeboat Distribution segment for the second quarter of 2015 was 6.3% compared to 6.6% for the second quarter of 2014. The decrease in gross profit margin for the Lifeboat Distribution segment was primarily caused by a change in our product mix with an increase in sales of lower margin products. Gross profit margin for our TechXtend segment for the second quarter of 2015 was 12.3% compared to 10.6% for the second quarter of 2014. The increase in gross profit margin for the TechXtend segment was primarily caused by the decrease in larger extended payment term sales transactions which typically carry lower margins.

Total selling, general, and administrative ("SG&A") expenses for the second quarter of 2015 were $4.4 million compared to $4.0 million for the second quarter of 2014, representing an increase of $0.5 million or 12%. This increase is primarily the result of an increase in sales related employee and employee related expenses. A large part of this increase is due to us hiring and creating a field sales team and a professional services team. We expect these investments to support and accelerate future sales and gross margin growth. As a percentage of net sales, SG&A expenses for the second quarter of 2015 were 4.8% compared to 4.7% for the second quarter of 2014.

For the three months ended June 30, 2015, the Company recorded a provision for income taxes of $710,000 million or 34.3% of income, compared to $839,000 or 36.1% of income for the same period in 2014.

Net income and diluted earnings per share for the second quarter of 2015 were $1.4 million and $0.29, respectively, compared to $1.5 million and $0.31, respectively, for the second quarter of 2014.

On July 29, 2015, the Board of Directors declared a quarterly dividend of $.17 per share of its common stock payable August 17, 2015 to shareholders of record on August 10, 2015.

About Wayside Technology Group, Inc.

Wayside Technology Group, Inc. (NASDAQ: WSTG) was founded in 1982 and is a unified and integrated technology company providing products and solutions for corporate resellers, VARs, and developers as well as business, government and educational entities. The company offers technology products from software publishers and manufacturers including Acronis, Bluebeam Software, CA Technologies, Dell/Dell Software, ExaGrid Systems, Flexera Software, Hewlett Packard, Infragistics, Intel Software, Lenovo, Microsoft, Mindjet, Samsung, SmartBear Software, SolarWinds, Sophos, StorageCraft Technology, TechSmith, Unitrends, Veeam Software and VMware.

Additional information can be found by visiting www.waysidetechnology.com

The statements in this release concerning the Company's future prospects are forward-looking statements that involve certain risks and uncertainties. Such risks and uncertainties could cause actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation, the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, contribution of key vendor relationships and support programs, as well as factors that affect the software industry in general and other factors. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company undertakes no obligation to update or revise these forward-looking statements.

-Tables Follow -

              WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED BALANCE SHEETS
         (Amounts in thousands, except share and per share amounts)

                                                  June 30,     December 31,
                                                    2015           2014
                                               -------------  -------------
                                                (unaudited)

                                   ASSETS

Current assets
  Cash and cash equivalents                    $      18,878  $      23,124
  Accounts receivable, net                            56,006         60,782
  Inventory, net                                       2,360          1,491
  Prepaid expenses and other current assets            1,247            933
  Deferred income taxes                                  203            245
                                               -------------  -------------
Total current assets                                  78,694         86,575

Equipment and leasehold improvements, net                396            412
Accounts receivable long-term                          5,531          7,660
Other assets                                             104            152
Deferred income taxes                                    182            182
                                               -------------  -------------

Total assets                                   $      84,907  $      94,981
                                               =============  =============

                    LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
  Accounts payable and accrued expenses        $      46,309  $      55,414
                                               -------------  -------------
Total current liabilities                             46,309         55,414


Commitments and contingencies

Stockholders' equity
  Common stock, $.01 par value; 10,000,000
   shares authorized, 5,284,500 shares issued,
   and 4,806,311 and 4,890,756 shares
   outstanding in 2015 and 2014, respectively             53             53
  Additional paid-in capital                          31,744         31,013
  Treasury stock, at cost, 478,189 and 393,744
   shares, respectively                               (8,431)        (6,166)
  Retained earnings                                   16,252         15,225
  Accumulated other comprehensive loss                (1,020)          (558)
                                               -------------  -------------
Total stockholders' equity                            38,598         39,567
                                               -------------  -------------
Total liabilities and stockholders' equity     $      84,907  $      94,981
                                               =============  =============


               WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
               ( Amounts in thousands, except per share data)

                                    Six months ended     Three months ended
                                        June 30,              June 30,
                                     2015       2014       2015       2014
                                  ---------  ---------  ---------  ---------
                                      (Unaudited )          (Unaudited )
                                  --------------------  --------------------
Revenues
  Lifeboat segment                $ 164,206  $ 129,237  $  81,260  $  69,979
  TechXtend segment                  20,456     26,892     10,710     14,420
                                  ---------  ---------  ---------  ---------
  Total Revenue                     184,662    156,129     91,970     84,399

Cost of sales
  Lifeboat segment                  153,862    120,509     76,150     65,367
  TechXtend segment                  18,018     23,943      9,395     12,893
                                  ---------  ---------  ---------  ---------
  Total Cost of sales               171,880    144,452     85,545     78,260
                                  ---------  ---------  ---------  ---------

Gross Profit                         12,782     11,677      6,425      6,139

Operating expenses
  Selling costs                       4,913      4,074      2,542      2,049
  Share- based compensation             534        575        267        252
  Other general and
   administrative expenses            3,469      3,353      1,640      1,656
                                  ---------  ---------  ---------  ---------
Total Selling, general and
 administrative expenses              8,916      8,002      4,449      3,957
                                  ---------  ---------  ---------  ---------

Income from operations                3,866      3,675      1,976      2,182

Interest income, net                    197        255         99        132
Foreign currency transaction
 (loss) gain                             (5)        (4)        (4)         8
                                  ---------  ---------  ---------  ---------
Income before provision for
 income taxes                         4,058      3,926      2,071      2,322
Provision for income taxes            1,394      1,384        710        839

                                  ---------  ---------  ---------  ---------
Net income                        $   2,664  $   2,542  $   1,361  $   1,483
                                  =========  =========  =========  =========

Income per common share - Basic   $    0.57  $    0.55  $    0.29  $    0.32
                                  =========  =========  =========  =========
Income per common share - Diluted $    0.57  $    0.54  $    0.29  $    0.31
                                  =========  =========  =========  =========

Weighted average common shares
 outstanding - Basic                  4,665      4,601      4,640      4,664
                                  =========  =========  =========  =========
Weighted average common shares
 outstanding - Diluted                4,689      4,665      4,663      4,719
                                  =========  =========  =========  =========