Systemax Reports Second Quarter 2016 Financial Results
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Systemax, Inc. (SYX) Misses Q2 EPS by 9c
August 2, 2016 4:45 PM EDTSystemax, Inc. (NYSE: SYX) reported Q2 EPS from cont ops of $0.02, $0.09 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $420.8 million versus the consensus estimate of $441.93 million.
Larry Reinhold, Chief Executive Officer, said, "In the quarter we continued to streamline our business, optimize our operations and took additional steps to improve our long-term profitability. Industrial extended its revenue growth streak to 26 consecutive quarters despite a soft North American MRO market, improved efficiencies in its distribution network, and implemented a cost reduction initiative which will lower its annual cost structure by approximately $4... More
