Good morning, ladies and gentlemen, and welcome to the Wayside Technology Group conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session. Please note that all callers are limited to one question each. If anyone should require assistance during the conference, please press star then zero on your touchtone telephone. 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 Caponigro. Ms. Caponigro, you may begin your conference at this time.
Thank you. Good morning. Welcome to Wayside Technology's fourth quarter 2015 earnings call. Before turning the call over to Simon Nynens, 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 for the fourth quarter at approximately 2016. The earnings release is available at the company's investor relations website at waysidetechnology.com. Today's call, including all questions and answers, is being webcast live and a rebroadcast will be available at www.waysidetechnology.com/earnings-call. This conference call and the associated webcast contain time-sensitive information that is accurate only as of today. Certainties are discussed in our Forms 10-Q and also in greater detail in our Forms 10-K. Wayside Technology Group 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 Simon Nynens.
Gross profit came in at a record $26.6 million. A great achievement. In 2015, we invested heavily in additional sales staff for our Lifeboat 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. Cash and long-term receivables amounted to more than one-third of our market cap of $31.2 million, compared to $30.8 million at the end of December last year. Cash and long-term receivables represented 81% of equity. In order to manage the expected growth of our company. Our pipeline of new vendors, as said, is strong, and we look forward to 2016.
Now, I would like to hand it over-
$0.1 for the same period in 2014. Net sales for the fourth quarter of our Lifeboat Distribution segment were $89.4 compared to $83.8 in the fourth quarter of 2014, representing an increase of 7%. Net sales for the fourth quarter of 2015 for our TechXtend segment were $10.4 million compared to $10.3 million in the fourth quarter of 2014. Net sales for the year ended December 31st, 2015 increased 12% to $382 million compared to $340 million in 2014. Net sales for our Lifeboat Distribution segment in 2015 were a record $339.7 million compared to $290.4 million in 2014, representing a 17% increase.
Total sales for the TechXtend segment in 2015 amounted to $42.4 million compared to $50.3 million in 2014, representing a decrease of 16%. Gross profit for our Lifeboat Distribution segment for the fourth quarter of 2015 and 2014 was $5.7 million. When gross profit for our TechXtend segment for the fourth quarter of 2015 is $1.2 million compared to $1.2 million in the fourth quarter 2014, representing a small decrease. Gross profit for our Lifeboat Distribution segment in 2015 was $21.5 million compared to $19.2 million, for the Lifeboat segment was due to increased sales volume. Gross profit for our TechXtend segment in 2015 was $5 million, compared to $5.6 million in 2014, representing a 10% decrease.
The decrease in gross profit for TechXtend segment was the result of decreased sales volume, offset in part by higher gross margins in 2015 as compared to 2014. 2015 was a record year with increases in revenue and gross profits. We invested heavily in expansion of a new office in Phoenix, expanding our sales and engineering teams, and building a robust new vendor process to accelerate the onboarding of new vendors, which you can see in the several added recently, including Thycotic, Intelligent ID, and TetherView, and there are more to be added soon as well. These investments caused our increase in SG&A, offset the increased gross profits, and laid the foundation for the execution of our growth strategy in 2016. There are several additional vendor announcements coming over the next few weeks, product portfolio to help achieve our growth targets. Thank you.
Simon, back to you.
Thank you, Bill. Kevin Scull 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&A. Total SG&A expenses for the fourth quarter of 2015 were $4.5 million. Expenses to support our growth in our Lifeboat Distribution segment. SG&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 $1.6 million compared to $1.8 million in the prior year. Earnings per share. $0.99 in the prior year. 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 $23.8 million at year-end, compared to $23.1 million at the prior year-end. This increase is primarily composed of $7.3 million of cash provided from operations net of Accounts receivable, current and long-term, decreased by 3% on lower levels of receivables related to extended term transactions due to the decline in these transactions over the last two years. As of year-end, we have no outstanding balances under the credit facility. Working 8,000 shares. Our stockholder equity now stands at $38.7 million. At our February 2, 2016 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 52 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 turn it back to you.
Thank you, Evan. Before starting the Q&A session, I would just like to state again that we remain focused on providing our customers with excellent customer service, providing our employees with a great and rewarding working environment. With a P/E multiple of about 14 times, a current dividend yield of about 3.8%, and over $31 million, more than a third of our market cap in cash and long-term receivables, we are confident in the performance of our stock price. Thank you, operator. We can now start the Q&A session.
Thank you. Ladies and gentlemen, at this time, if you have a question, please press star then one on your touchtone telephone. If your question has been answered and you wish to remove yourself from the queue, please press the pound key. If you're using a speakerphone, please pick up the handset before asking a question. One moment, please, for our first question. Once again, if you would like to ask a question, please press star then one. I'm showing no questions at this time.
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