Systemax trims losses despite sales decline

Systemax Inc., an online marketer of technology products, posted a 7.3 percent decline in second quarter net sales, but narrowed its net loss in an earnings release after Tuesday’s market close.

The Port Washington company reported net sales of $420.8 million compared to $434.9 million in the year-ago period. The company posted a net loss from continuing operations of $2 million, or 5 cents per diluted share, in the period ended June 30, versus a net loss of $16.7 million, or 45 cents per diluted share, in the 2015 quarter.

“In the quarter we continued to streamline our business, optimize our operations and took additional steps to improve our long-term profitability,” chief executive Larry Reinhold said in a statement.

In July, Systemax said it was selling assets and transferring employees of its Misco Germany unit to Cancom, a German technology company.

Shares of Systemax rose 4 percent to $8.95 Tuesday and were unchanged after hours.

By Ken Schachter

kenneth.schachter@newsday.comkschach

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.