New York - Systemax saw its second-quarter sales and gross profit increase 8 percent and 13 percent, respectively, led by gains in computer, accessory and software sales.

Systemax generated $872.2 million in sales during the second quarter, ended June 30, with a gross profit of $128.9 million.

The company broke out sales for its basic product categories.

  • Computer accessories and software generated $251 million in sales, up from $224.6 million.
  • Computer sales were $243 million, up from $201.3 million.
  • Consumer electronics sales fell to $170.8 million from $179 million.
  • Computer components fell to $106.5 million from $123.2 million.
  • Industrial products hit $78.8 million, up from $62.2 million
  • Sales of other products were $22.2 million, up from $15.6 million.

The quarter also saw Systemax record special gains related to an investigation and settlement with a former officer and director of the company.

In May Systemax fired Gilbert Fiorentino, CEO of its technology products group. An internal Systemax investigation, based on an anonymous tip, revealed Fiorentino owed the company $11 million. However, Systemax would not reveal the exact improprieties discovered. The technology products group includes TigerDirect, founded by Fiorentino, and CompUSA and CircuitCity.com.

 
Release Date: 
2011-08-04 14:16:47
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Abstract Web: 
New York - Systemax saw its second-quarter sales and gross profit increase 8 percent and 13 percent, respectively, led by gains in computer, accessory and software sales.
Article Type: 
News
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