Systemax, Inc. (SYX) Misses Q4 EPS by 1c

Systemax, Inc. (NYSE: SYX) reported Q4 EPS of $0.26, $0.01 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $217.7 million versus the consensus estimate of $217.74 million.

• Consolidated sales increased 11.9% to $217.7 million in U.S. dollars. On a constant currency basis, average daily sales increased 12.1%.
• Consolidated operating income grew 24.1% to $13.9 million compared to $11.2 million last year. On a Non-GAAP basis, consolidated operating income grew 2.5% to $12.3 million.
• Net income per diluted share from continuing operations declined 61.6% to $0.33. The fourth quarter of 2017 comparative period includes a tax benefit of $21.8 million primarily related to the reversal of valuation allowances against the Company\'s deferred tax assets and the impacts of U.S. tax reform enacted in Q4 of 2017.
• Non-GAAP net income per diluted share from continuing operations grew 30.0% to $0.26.
• Net income per diluted share from discontinued operations was $0.02.

"I joined Systemax in early January, and my first two months have been a busy and exciting time, as I have met and listened to senior leaders and associates at each of our facilities. I believe we are well-positioned to win within the rapidly changing and competitive market for industrial product distribution. The Industrial business has a strong platform that is well suited to support its future expansion. Our ability to deliver a personalized digital end-to-end and high-touch sales and customer experience, offer an innovative product and service assortment, and be a rich destination for industrial products and MRO knowledge, service, and support provide the foundation for our continued success. We remain focused on enhancing customer engagement, growing revenue, driving long term cost efficiencies and improving profitability across the business. We maintain a solid balance sheet and will continue to seek potential acquisitions that offer synergistic customer and product growth," concluded Litwin.

For earnings history and earnings-related data on Systemax, Inc. (SYX) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c