Systemax Q2 revs jump 17%
Claims strong quarter
Systemax shrugged off the credit crunch in Q2, with sales jumping 17 per cent to $758m for the three months ended June 30. The direct marketing IT reseller and PC builder, noted stronger demand in North America and Europe in the quarter and it held gross margins steady at 15.3 per cent.
However, net income fell 1.6 per cent year on year to $13.8m on the back of lower interest income, higher income tax and integration costs for CompUSA. Systemax bought 16 retail stores from the ashes of the collapsed US super-chain in January.
The company operates as Misco in Europe, and runs heaps of brands in North America, of which Systemax, Tiger Direct and CompUSA are the best known.