Systemax quarterly sales and earnings grow
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.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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