Hardware retailer Systemax has reported total net sales of $1.1bn for the fourth quarter of 2010, an increase of 7% compared to $938m for the same period last year.
The company’s operating income decreased to $20.4m for the fourth quarter of 2010, compared to $30.6m for the same period last year.
Gross margin was 13.7%, compared to 14.2% in the fourth quarter of 2009; Operating margin was 2% for the fourth quarter of 2010, compared to 3.3% for the same period last year.
For the fourth quarter ended 31 December 2010, the company posted gross profit of $137.8m, an increase of % compared to a gross profit of $133m for the same quarter a year ago.
Diluted EPS decreased by 31% to $0.34 from $0.49 per share for year ago quarter.
For the fiscal year 2010, the company’s revenue and gross profit increased to $3.6bn and $496m, respectively, from $3.2bn and $460m for the previous year.
Systemax chairman and chief executive officer Richard Leeds said the company generated strong sales within their business-to-business operations, with double digit increases for both the quarter and the full year.
"Consumer channel sales, while up modestly on a consolidated basis, remain challenged but should improve as the economy continues to recover and new products are introduced by our vendors," Leeds said.
