Exhibit 99.1

Company Contact:

Kevin Scull

Wayside Technology Group, Inc.

Vice President and Chief Accounting Officer

(732) 389-0932

kevin.scull@waysidetechnology.com

WAYSIDE TECHNOLOGY GROUP, INC. REPORTS 2008 FIRST QUARTER RESULTS
AND DECLARES QUARTERLY DIVIDEND

SHREWSBURY, NJ, April 24, 2008 - Wayside Technology Group, Inc. (NASDAQ: WSTG) today reported financial results for the first quarter ended March 31, 2008. The results will be discussed in a conference call to be held on Friday, April 25, 2008 at 10:00 AM Eastern time. The dial-in telephone number is (866) 814-8483 and the pass code is "WSTG".

This conference call will be available via live webcast - in listen-mode only - at www.earnings.com. A replay will be available on our website at .

Total net sales for the first quarter of 2008 decreased 14% or $6.4 million to $40.5 million compared to $46.9 million for the same period in 2007. These results are entirely attributable to a continuation of the reduction of sales for our largest vendor because of intense competition and extremely low margins. Sales for the first quarter of 2008 for our Lifeboat segment were $29.3 million compared to $36.1 million in the first quarter of 2007, representing a 19% decrease. Sales for the first quarter of 2008 for our Programmer's Paradise segment were $11.2 million compared to $10.8 million in the first quarter of 2007, representing a 3% increase. Gross profit margin, as a percentage of net sales, for the quarter ending March 31, 2008 was 9.3% compared to 9.5% in the first quarter of 2007.

"In accordance with our strategic plan, and as stated before, we are transitioning to become a more diverse software provider. We are pleased to report that our strategy to add new publishers as well as expand our current relationships with software publishers is working well. Excluding our largest distribution line, sales increased by $2.9 million or 11% compared to the first quarter of 2007. Since January 1, 2008, we signed distribution contracts with 11 software publishers," said Simon F. Nynens, chairman and chief executive officer. "We continued to face reduced sales for our largest vendor due to intense competition and extremely low margins. As expected, Q1 2008 was comparatively a tough quarter. Sales for our Lifeboat segment grew 56% or $13 million in the first quarter of 2007 which set up a very tough quarter-over-quarter growth comparison. Although we cannot forecast 2008 second quarter results, based on April's month to date results, we are cautiously optimistic about the second quarter of 2008."

On April 23, 2008, the Board of Directors declared a quarterly dividend of $.15 per share of its common stock payable May 20, 2008 to shareholders of record on May 7, 2008.

Total gross profit for the quarter ended March 31, 2008 was $3.8 million compared to $4.5 million in the first quarter of 2007.

Gross profit for our Programmer's Paradise segment for the quarter ended March 31, 2008 was $1.4 million compared to $1.6 million in the first quarter of 2007. Gross margin as a percentage was 12.2% versus 14.2% in Q1 2007. Gross margin as a percentage was impacted by several large deals in Q1 2008. These large deals typically carry lower gross margins.

 

Gross profit for our Lifeboat segment for the quarter ended March 31, 2008 was $2.4 million compared to $2.9 million in the first quarter of 2007. Gross margin as a percentage remained at 8.1% in Q1 2008 versus Q1 2007. These results reflect the continued pricing pressure on our main line as well as the impact of our recently introduced "point saving" program. We reserved $0.1 million for these expenses in this first quarter of 2008. Actual usage of our point saving program is below our initial estimates; as a result, we expect these costs, as a percentage of sales, to be lower on a go forward basis.

Total selling, general, and administrative ("SG&A") expenses for the first quarter of 2008 were $2.9 million compared to $3.0 million in the first quarter of 2007.

Net income for the first quarter of 2008 amounted to $629,000 or 1.6% of net sales as compared to $990,000 or 2.1% for the same period in 2007.

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 such as Microsoft, CA, IBM, VMware, Borland, Quest Software, Compuware, Infragistics, ComponentOne, Acresso, and Adobe.

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 include the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, and contribution of key vendor relationships and support programs. 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.

- Tables Follow -

 

PART I - FINANCIAL INFORMATION

WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

       

 

March 31,

2008

(Unaudited)

 

December 31,

2007

ASSETS

 

Current assets

         

Cash and cash equivalents

$

14,360

 

$

14,241

Marketable securities

 

7,680

   

9,641

Accounts receivable, net

 

21,848

   

24,824

Inventory - finished goods

 

836

   

1,116

Prepaid expenses and other current assets

 

1,260

   

927

Deferred income taxes

 

812

   

830

Total current assets

 

46,796

   

51,579

           

Equipment and leasehold improvements, net

 

789

   

619

Other assets

 

3,448

   

3,469

Deferred income taxes

 

1,012

   

1,086

           

Total assets

 $

52,045

   $

56,753

           

LIABILITIES AND STOCKHOLDERS' EQUITY

           

Current liabilities

         

Accounts payable and accrued expenses

$

27,769

 

$

32,100

Total current liabilities

 

27,769

   

32,100

           

Other liabilities

 

132

   

161

Total liabilities

 

27,901

   

32,261

           

Commitments and contingencies

         
           

Stockholders' equity

         
 

Common stock, $.01 par value; 10,000,000 shares

         
   

authorized, 5,284,500 shares issued and 4,739,235 and 4,708,498 shares outstanding, respectively

         
 

Additional paid-in capital

 

53

   

53

 

Treasury stock, at cost, 545,265 and 576,002 shares,

 

28,133

   

28,860

   

respectively

 

(2,438)

   

(2,283)

 

Accumulated deficit

 

(1,970)

   

(2,599)

 

Accumulated other comprehensive income

 

366

   

461

Total stockholders' equity

 

24,144

   

24,492

Total liabilities and stockholders' equity

$

52,045

 

$

56,753

 

WAYSIDE TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME
(Unaudited)
(In thousands, except per share data)

 

Three months ended

 

March 31,

   

2008

   

2007

           

Net sales

$

40,506

 

$

46,922

           

Cost of sales

 

36,761

   

42,467

           

Gross profit

 

3,745

   

4,455

           

Selling, general and administrative expenses

 

2,942

   

3,043

           

Income from operations

 

803

   

1,412

           

Interest income, net

 

234

   

240

           

Realized foreign exchange gain (loss)

 

3

   

(1)

           

Income before income tax provision

 

1,040

   

1,651

           

Provision for income taxes

 

411

   

661

           

Net income

 $

629

   $

990

           

Net income per common share - Basic

 $

0.14

   $

0.23

           

Net income per common share - Diluted

 $

0.14

   $

0.21

           

Weighted average common shares outstanding-Basic

 

4,441

   

4,353

           

Weighted average common shares outstanding-Diluted

 

4,533

   

4,669

           

Reconciliation to comprehensive income:

         
           

Net income

$

629

 

$

990

 

Other comprehensive income, net of tax:

         
   

Unrealized gain on marketable securities

 

(8)

   

-

   

Foreign currency translation adjustments

 

(87)

   

19

Total comprehensive income

$

534

 

$

1,009