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Systemax Inc. Reports Operating Results (10-Q)

August 07, 2012 | About:
10qk

10qk

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Systemax Inc. (SYX) filed Quarterly Report for the period ended 2012-06-30.

Systemax Inc. has a market cap of $400.8 million; its shares were traded at around $10.92 with a P/E ratio of 12.1 and P/S ratio of 0.1. Systemax Inc. had an annual average earning growth of 17.9% over the past 10 years. GuruFocus rated Systemax Inc. the business predictability rank of 2.5-star.

Highlight of Business Operations:

Our Technology Products segment sells computers, computer supplies and consumer electronics which are marketed in North America Puerto Rico and Europe. Most of these products are manufactured by other companies. Some products are manufactured for us to our own design and marketed on a private label basis. For the six months ended June 30, 2012, Technology products accounted for 88% of our net sales.

Our Industrial Products segment sells a wide array of industrial products and supplies which are marketed in North America. Most of these products are manufactured by other companies. Some products are manufactured for us to our own design and marketed on a private label basis. Industrial products accounted for 12% of our net sales for the six months ended June 30, 2012. In both of our Technology Products and Industrial Products segments, we offer our customers a broad selection of products, prompt order fulfillment and extensive customer service.

The Technology Products net sales decrease is attributable to continued weakness in the consumer channels: internet, retail and television shopping channel sales in North America. These declines were partially offset by solid performance in the business to business channels. On a constant currency basis, Technology Products net sales would have decreased 2.9% and 3.1%, respectively, for the three and six month periods ended June 30, 2012.

The increase in consolidated business to business channel sales was driven by the Industrial Products segment s additional products offered, new product categories and the addition of sales personnel. On a constant currency basis, worldwide business to business channel sales grew 11.9% for the second quarter and 10.0% for the six month period ended June 30, 2012.

The decline in consolidated consumer-channel sales resulted from softness in television shopping, internet and retail stores, primarily in North America. On a constant currency basis, worldwide consumer channel sales decreased 14.4% for the second quarter of 2012 and 12.3% for the six month period ended June 30, 2012.

Read the The complete Report

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10qk
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