Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $9.03 USD
Change Today -0.18 / -1.95%
Volume 12.2K
As of 8:04 PM 05/21/15 All times are local (Market data is delayed by at least 15 minutes).

systemax inc (SYX) Key Developments

Systemax Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for 2015

Systemax Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of USD 785.8 million compared to USD 873.4 million a year ago. Operating loss was USD 19.5 million compared to USD 1.3 million a year ago. Loss before income taxes was USD 26.9 million compared to USD 2.1 million a year ago. Net loss was USD 28.6 million compared to USD 3.0 million a year ago. Basic and diluted loss per share were USD 0.77 compared to USD 0.08 a year ago. Non-GAAP operating loss was USD 8.2 million compared to non GAAP operating income of USD 2.6 million a year ago. Non-GAAP net loss was USD 10.1 million or USD 0.27 per diluted share compared to non GAAP net income of USD 1.2 million or USD 0.03 per diluted share a year ago. The company continued to expect total one time exit and severance costs will aggregate between USD 50 million and USD 55 million and expects to realize improved annual profitability of between USD 18 million and USD 22 million on a pre-tax basis.

Systemax Inc. to Report Q1, 2015 Results on May 05, 2015

Systemax Inc. announced that they will report Q1, 2015 results at 5:00 PM, US Eastern Standard Time on May 05, 2015

Systemax Inc., Q1 2015 Earnings Call, May 05, 2015

Systemax Inc., Q1 2015 Earnings Call, May 05, 2015

Systemax Inc. Plans to Exit Stores and Focus on Online Sales

Systemax Inc. announced that it plans to exit its brick-and-mortar electronics business and focus exclusively on selling online and directly to businesses. The move, announced along with the company's fourth-quarter earnings, will include closing a distribution center and 31 of its 34 stores. The company will also lay off an unspecified number of workers. The decision to largely shutter its consumer business comes a week after two brothers who once ran Systemax's retail operation in Miami were sentenced on bribery charges. Last month, Systemax disclosed in a regulatory filing that the company's internal controls and bookkeeping were the subject of an ongoing grand jury probe by the U.S. attorney's office in Miami.

Systemax Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014; Provides Earnings Guidance for the Year of 2015

Systemax Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $912.9 million compared to $874.2 million a year ago. Operating loss was $16.5 million compared to $1.3 million a year ago. Loss before income taxes was $17.4 million compared to $2.3 million a year ago. Net loss was $25.5 million compared to $19.8 million a year ago. Basic and diluted net loss per share was $0.69 compared to $0.54 a year ago. Non-GAAP operating loss was $1.4 million compared to Non-GAAP operating income of $5.9 million a year ago. Non-GAAP net loss was $1.5 million compared to Non-GAAP net income of $3.2 million a year ago. Non-GAAP diluted net loss per share was $0.04 compared to Non-GAAP diluted net income per share was $0.09 a year ago. Cash provided from operations was $37.3 million. Consolidated sales performance was led by strong growth in Industrial Products Group and supported by solid performance from B2B North America and EMEA technology businesses, which was partially offset by softness in consumer and retail. For the full year, the company reported net sales of $3,442.8 million compared to $3,352.3 million a year ago. Operating loss was $25.9 million compared to $20.6 million a year ago. Loss before income taxes was $32.6 million compared to $21.8 million a year ago. Net loss was $37.5 million compared to $43.8 million a year ago. Basic and diluted net loss per share was $1.01 compared to $1.18 a year ago. Non-GAAP operating income was $2.7 million compared to $5.9 million a year ago. Non-GAAP net loss was $2.6 million compared to Non-GAAP net income of $3.1 million a year ago. Non-GAAP diluted net loss per share was $0.07 compared to Non-GAAP diluted net income per share of $0.08 a year ago. For the quarter, the company recorded a non-cash charge of $10.0 million from impairment testing of long lived and other intangible assets in accordance with applicable financial accounting requirements. In regards to planned exit of retail business and the restructuring of North American tech operations, the company expects onetime exit and severance costs will aggregate between $50 million and $55 million. This charge will be incurred for financial reporting purposes during first quarter and second quarter of 2015, and the company expects its cash flow will be incurred over the remainder of 2015 and in subsequent years. After completion of these actions, the company expects to realize improved operating results of between $18 million and $22 million annually.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
SYX:US $9.03 USD -0.18

SYX Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Bechtle AG €66.66 EUR +0.006
CANCOM SE €35.49 EUR -0.191
Computacenter PLC 717.00 GBp -12.00
Insight Enterprises Inc $29.25 USD -0.02
Lenovo Group Ltd $12.90 HKD -0.60
View Industry Companies
 

Industry Analysis

SYX

Industry Average

Valuation SYX Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book 1.0x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.1x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact SYSTEMAX INC, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.