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Systemax quarterly sales and earnings grow

Systemax Inc., of Port Washington, declared a cash

Systemax Inc., of Port Washington, declared a cash dividend of 11 cents per share. Credit: Newsday

Systemax Inc., which distributes industrial and technology products through websites in North America and France, Tuesday reported that fourth quarter sales grew 10.6 percent year-over-year to $330.6 million.

The Port Washington company posted net income from continuing operations of $32.4 million, or 85 cents per diluted share, in the quarter ended Dec. 31, versus $11.5 million, or 31 cents per diluted share, in the year-earlier period.

Sales for the full year increased 8.1 percent to $1.3 billion.

Larry Reinhold, chief executive at Systemax, said in a statement that in 2017 the company “streamlined our operations, executed on our growth and optimization initiatives, and delivered strong financial performance.”

The company declared a cash dividend of 11 cents per share payable March 16 to stockholders of record at the close of business on March 9.

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