Systemax Reports Fourth Quarter And Full Year 2012 Financial Results

Systemax Inc. (NYSE: SYX) today announced financial results for the fourth quarter and full year ended December 31, 2012.

Performance Summary

(U.S. dollars in millions, except per share data)
Highlights  

Quarter Ended December 31,
 

Year Ended

December 31,
GAAP Results   2012   2011 2012   2011
Sales   $935.2   $978.4 $3,544.6   $3,680.6
Gross profit   $120.4   $139.9 $488.1   $530.5
Gross margin   12.9%   14.3% 13.8%   14.4%
Operating income (loss) from continuing operations   $(46.8)   $21.1 $(39.9)   $80.8
Operating margin from continuing operations   (5.0)%   2.2% (1.1)%   2.2%
Net income (loss)   $(27.1)   $14.7 $(8.3)   $54.4
Diluted earnings (loss) per share   $(0.73)   $0.40 $(0.22)   $1.47
Dividend declared   $0.25   - $0.25   -
Non-GAAP Results*              
Non-recurring and recurring adjustments, net   $41.2   $1.7 $51.9   $(2.2)
Adjusted operating income (loss)   $(5.6)   $22.8 $12.0   $78.6
Adjusted operating margin   (0.6)%   2.3% 0.3%   2.1%
Adjusted net income (loss)   $(2.4)   $15.8 $7.7   $53.0
Adjusted diluted earnings (loss) per share   $(0.06)   $0.43 $0.21   $1.43

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