Good morning ladies and gentlemen, and welcome to the Wayside Technology Group Conference Call. At this time, As a reminder ladies and gentlemen, this conference call is being recorded. I would now like to introduce your host for today's conference, Melanie Caponegro. Ms. Caponegro, you may begin your conference at this time.
Thank you, and good morning. Welcome to Wayside Technologies 4th Quarter 2015 Earnings Call. Before turning the call over to Simon the company's Chairman and CEO, I'll dispense with the customary cautionary language and comment about the webcast for this earnings call. We released earnings relations website at waysidetechnology.com. Today's call, including all questions and answers in being webcast live and a rebroadcast will be available at www.wasteighttechnology.comearningsdash call.
This conference call and the associated web contain time sensitive information that is accurate only as of today are discussed in our forms 10Q and also in greater detail in our forms 10K. We cite technology Inc. Sees no obligation to update and does not intend to update any forward looking statements. Now, I would like to turn the call over to and finance.
And gross profit came in at a record $26,600,000, a great achievement. In 2015, we invested heavily in additional sales staff for our LiveVault division. We continued to execute our strategy of increased market penetration and adding new product lines to our portfolio. We bought back a total of approximately 274,000 shares in 2015, and we still have approximately 458,000 shares of cash and long term receivables amounted to more than 1 third of our market cap of $31,200,000 compared to $30,800,000 at the end of December last year. Cash and long term receivables represented 81 percent of equity and amounted to 600 in order to manage the expected growth of our company.
Our pipeline of new vendors has had a strong and we look forward to 2016. Now I would like to hand it over to
0.1 for the same period in 2014. Net sales for the fourth quarter of, our LIFO distribution segment were 89.4 compared to 83.8 the fourth quarter of 2014, representing an increase of 7%. Net sales for the fourth quarter of 2015 for our TechXtend segment were $10,400,000 compared to $10,300,000 in the fourth quarter of 2014. Net sales for the year ended December 31, 2015 increased 12 percent to $382,000,000 compared to $340,000,000 in 20 14. Net sales for our Lightboat Buchen segment in 2015 were a record $339,700,000 compared to 290 $4,000,000 in 20 14, representing a 17% increase.
Total sales for the Tech Extent segment in 2015 amounted to $42,400,000, compared to 50 point dollars
for
compared to 1.2 in fourth quarter of 2014, representing a small decrease. Gross profit for our Lifeboat Distribution segment in 2015 was $21,500,000 compared to $19,200,000 in 20 for our Tech Extent segment in 2015 was $5,000,000 compared to $5,600,000 in 20 14, representing a 10% decrease. The decrease in gross profit for Tecxtendsegment was the result of decreased sales volume, offset in part by higher gross margins in 2015 as compared to 20 team. 2016 was a record year with increases in revenue and gross profits. Expanding our which you can see in the several added recently, including psychotic, intelligent ID and TetherView, and there are more to be added soon as well.
These investments caused our for the execution oil to help achieve our growth targets. Thank you. Simon, back to you.
Thank you, Bill. Kevin Skol will now report on the financial numbers. Kevin?
Thank you, Simon, and good morning, everyone. Since bill already discussed sales and gross margin by segment, I will start with SG and A. Total SG and A expenses for the fourth quarter of 2015 were $4,500,000 of expenses to support our growth in our light book distribution segment. SG and A expenses as a percentage of sales were 4.7% in 2015 compared to 4.8% in 2014. Our net income for the fourth quarter of 2015 was in the prior year.
Now moving on to the balance sheet. Compared to our balance sheet at December 31, 2014, the following key accounts had fluctuation. Cash was a healthy $23,800,000 at year end compared to $23,100,000 at the prior year end. This increase is primarily composed of 7.3 receivable, current and long term decreased by 3% on lower levels of receivables related to extended due to the decline in these transactions over the last 2 years. As of year end, we have no outstanding balances under the credit line credit facility.
Working 8000 shares. Our stockholder equity now stands at Team Board meeting, the Board of Directors declared a $0.17 per share dividend for its common stock payable on February 26, to shareholders of record on February 16, 2016. The company has now paid dividends consecutively for the last fifty few quarters. In conclusion, the company continues to have solid operating results, a strong balance sheet and is adequately capitalized to support our continued growth plans. I want to personally thank all of our team members worldwide.
Simon, I'll turn it back to you.
Thanks, Ivan. Before starting the Q and A session, I would just like to like to state again that we remain focused on providing our customers with excellent customer service, providing our employees with a great and rewarding work environment. With a PE multiple of about 14 times, a current dividend yield of about 3.8% and over 31,000,000 more than a third of our market cap in cash and long term evils, we are confident in the performance of our stock price. Thank you, operator. We can now start the Q and A session.
Thank you. You. I'm showing no questions at this time.
Good. We thank you for your interest in our company and thank
you for your participation.