Systemax posts 2.1 percent sales gain
Systemax Inc. reported fourth-quarter consolidated sales increased 2.1 percent to $222.2 million in U.S. dollars.
On a constant currency basis, average daily sales increased 2.1 percent.
Net income of $11.3 million, or 30 cents per diluted share, compared to income of $9.8 million, or 26 cents, in the same period last year.
For the full year, consolidated sales increased 5.6 percent to $946.9 million in U.S. dollars. On a constant currency basis, average daily sales increased 5.7 percent.
Net income of $52.4 million, or $1.39 per share, compared to $47 million, or $1.24, in 2018.
"A year ago, we embarked on our multi-year strategic road map to grow customer engagement and generate operating leverage from current operations and investments," said Barry Litwin, chief executive officer. "Today we are delivering higher service levels and greater end-to-end transaction transparency to our customers. As we begin 2020, we will accelerate our strategy as we invest in the growth of our sales force, digital marketing, and product and category expansion. Our expanded distribution network and self-service digital tools will continue to improve efficiency and enhance our customer experience. These investments, combined with our continuous improvement culture, will further strengthen our platform, enhance our competitive position and drive our long-term performance."
Based in Port Washington, New York, Systemax is a provider of industrial products in North America going to market through a system of branded e-Commerce websites and relationship marketers. The primary brand is Global Industrial.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
