Systemax Inc., Port Washington, NY, (NYSE: SYX), reported first quarter sales of $302.5 million, up 5.4 percent from the same period the previous year. The company reported a loss of $18.5 million down from a loss of $17.3 million in the first quarter of 2017.
"More than a year ago we commenced a strategy to exit our underperforming businesses and streamline our Company, said Larry Reinhold, Systemax CEO. "With the sale of the remainder of our underperforming businesses in Europe in March 2017, we have substantially completed this initiative and successfully transformed Systemax. While certain wind down activities remain, Systemax is essentially a new company."
