Systemax Posts Q3 Loss, Holds 3rd Annual Tech Bash

Soft sales at TigerDirect contributed to a $2.8 million loss
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TigerDirect parent Systemax said strength in its B-to-B and industrial products operations helped offset softness in its U.S. retail business last quarter.

Port Washington, N.Y. — TigerDirect parent Systemax said strength in its B-to-B and industrial products operations helped offset softness in its U.S. retail business last quarter.

Net sales rose 4.2 percent to $825.4 million for the third quarter, ended Sept. 30, while an 8.6 percent decline in TigerDirect sales, to $201.2 million, contributed to a $2.8 million loss for the period.

In a statement, Systemax chairman/CEO Richard Leeds said the company remains focused on “improving the operating performance” of its consumer tech business, and has the balance-sheet wherewithal to continue investing in those operations to strengthen its competitiveness.

TigerDirect operates 34 stores in the U.S. and Canada, and ranked 16th on TWICE’s Top 100 CE Retailers Report with some $1.2 billion in CE sales last year.

Separately, TigerDirect will hold its third annual Tech Bash consumer exhibition here tomorrow night at Marlins Park, along with a day-long IT Conference and Expo for industry attendees.

The public event, co-hosted by Intel, will showcase new and emerging technology from nearly 150 exhibitors including Intel, WD, Samsung, Lenovo, Sony, Microsoft and Nvidia.

TigerDirect is anticipating a sizeable increase over last year’s 10,000 attendees. Visitors can expect pre-CES product previews, giveaways, interactive games, food and entertainment. The event will utilize Marlins Park’s high-tech score boards and LED screens, and will employ the center field for brand activations and main stage performances.

The recently added B-to-B component, sponsored by Lenovo and HP, will feature new products and solutions, IT-focused breakout sessions, interactive demos and on-site purchasing. Kevin O’Leary of “Project Earth” and “Shark Tank” will keynote the event.

The intention of the Tech Bash, said Intel and TigerDirect, is to create “a stadium-sized event showcasing the latest and greatest in technology while continuing their efforts to make Miami a technology hub for the Americas.”

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