Systemax management is enthusiastic about its performance in Q4 and 2016, despite the business making a loss and the fact that sales were down annually.
For the full year ending 31 December, Systemax posted a GAAP net loss from continuing operations of $7.9m (£6.4m), which narrowed from $48.3m a year ago. Consolidated sales for the full year were down 9.4 per cent to $1.7bn. The company compared average daily sales for "enhanced comparability" due to its fourth quarter in 2015 being a week longer than in 2016, which skewed the traditional comparison.
In Q4, GAAP consolidated sales fell 10.9 per cent to $414.7m, with its overall net loss from continuing operations reaching $700,000, compared with $11.6m in the prior period.
Systemax CEO Larry Reinhold said the company streamlined its corporate structure last year, which has helped improve profitability.
He was chipper about its EMEA performance too.
In Q4, the ETPG recorded sales of $238.1m, down 16.5 per cent year on year, on an average daily sales basis, while for the full year its revenue was $960m, down 8.7 per cent on the same basis.
Reinhold last month praised what he said was the good work being carried out by its Misco UK team, and gave the British business another positive shout out in the results announcement.
"France, led by its strong management team, delivered another quarter of double-digit organic growth as it benefited from gains across its customer base, success in a number of tender bids and excellent vendor partnerships," he said. "In
New acquisition will bring UK cloud service provider's global headcount to over 700
Law firm claims that Oracle lied to investors over what is driving its cloud revenue growth and boosted sales through 'threats and extortive tactics'
Vendor claims to have demonstrated 'growing commitment to the telecoms space
Global channel boss Joyce Mullen claims partners wanted 'more predictability'