Systemax posts $6M 2nd quarter loss

Systemax Inc., a Port Washington electronics retailer, said it lost $6.1 million during the second-quarter as its sales of computers, software and accessories continued to falter.

The company, which sells products through retail stores and a variety of websites and catalogs, said revenue declined to $805.8 million during the three months ended in June. That's down 5.1 percent from the same period last year, when Systemax lost $2.3 million.

"Our consolidated results overall are disappointing," Systemax chairman and chief executive Richard Leeds said.

In the company's largest product categories -- computers, accessories and software -- revenue fell a total of 4 percent, to $455.1 million. Systemax, also sells shelves, workbenches and other industrial products; it said those sales improved by 15 percent, to $118.6 million.

Systemax sells products under the name TigerDirect, globalindustrial.com and several other names. It has closed three stores in recent months and plans to shutter a fourth location by September.

In late 2012, Systemax discontinued its retail brands, CompUSA and Circuit City, resulting in a $35.3-million write-off. The company also exited the personal computer manufacturing business last year.

Systemax's stock is down 7 percent this year. Shares closed up 1.82 percent yesterday to $9.50. The company employs about 5,300 people globally, including 300 on Long Island.