Systemax Posts $6.3M Q1 Loss, Sales Off 3.6%

By Alan Wolf On Apr 30 2013 - 4:37pm

Port Washington, N.Y. – IT and CE seller Systemax reported a $6.3 million loss for the first quarter ended March 3, compared to year-ago earnings of $7.1 million, due to weakness in its retail businesses.

Net sales slipped 3.6 percent to $880.7 million and comp store sales declined 3.3 percent in the U.S. and Europe.

Retail sales, which include TigerDirect in the U.S., fell 10.9 percent, while b-to-b sales, which comprise about 62 percent of the business, increased 1.6 percent.

Systemax Reports Q4, Full-Year Losses

On Mar 6 2013 - 5:29pm

Port Washington, N.Y. — IT reseller and multichannel retailer Systemax reported losses for the fourth-quarter and full year on restructuring charges and weakness in its U.S. consumer business.

Losses totaled $27.1 million in the fourth quarter, ended Dec. 31, 2012, compared with net profit of $14.7 million during the year-ago period, and the company lost $8.3 million for all of 2012, compared with a $54.4 million profit in 2011.

Sprosty Out At Systemax

By Alan Wolf On Feb 12 2013 - 12:38pm

Port Washington, N.Y. — David Sprosty will step down as chief executive of Systemax’s North American retail business, effective March 1.

Sprosty, who succeeded the ousted Gilbert Fiorentino in October 2011, will assist in the transition and return to his consulting career, which will include special projects for Systemax.

Systemax To Cut Circuit City, CompUSA Brands, Exit PC Manufacturing

By Steve Smith On Nov 2 2012 - 11:53am

Port Washington, N.Y. – Systemax will consolidate its North American consumer businesses under the TigerDirect brand, drop the CompUSA and Circuit City brands by the end of the year, and exit the PC manufacturing business.

News came in its quarterly financial report in which Systemax reported sales of $846.3 million in the quarter, ended Sept. 30, down from $900.2 million in the prior year. Net income was $13.9 million in the quarter, up from the prior year’s $10.6 million.