Systemax Posts Lower Sales, Loss In Q2

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Port Washington, N.Y. - Systemax reported lower sales and a net loss in the second quarter, ended June 30.

Sales were down 2.6 percent to $849.5 million while the net loss was $2.24 million, compared with a profit of $15.6 million for the prior year's second quarter, due to the performance of the North American consumer business.

Consumer channel sales dropped 15.3 percent to $329 million and, on a same-store basis, sales declined 15.1 percent. Business-to-business channel sales rose 7.7 percent to $519.6 million.

Richard Leeds, chairman/CEO, commented that the North American consumer business had "a low double-digit reduction in top-line sales as the consumer electronics industry recorded double-digit declines across several key product categories." Among the reasons were "soft demand" and "shifting consumer habits."

By product category, computer sales were down 2 percent; computer accessories and software were down 5 percent; CE was down 14 percent; industrial products were up 31 percent; and computer components were down 7 percent, Systemax said.

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