Systemax Posts Q2 Sales, Profit Gains

Author:
Publish date:

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.

Featured

Related Articles