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Global Industrial, a subsidiary of Systemax (NYSE:SYX), has partnered with the National Association of Wholesaler-Distributors to assist small and mid-sized cities in their recovery efforts post-pandemic. This initiative includes donating over 30,000 units of sanitizer and masks to Albany, East Point, and Union City in Georgia, aimed at boosting local vaccination rates and facilitating the reopening of community centers. CEO Barry Litwin emphasized the company's commitment to community support, while NAW CEO Eric Hoplin acknowledged the positive impact of these contributions on local communities.
Systemax Inc. (NYSE: SYX) has launched The Knowledge Center, a digital platform aimed at empowering customers with expert advice and resources to support their business growth. This initiative aligns with the company's ACE (Accelerating the Customer Experience) strategy, enhancing B2B e-commerce capabilities. The Knowledge Center will offer various content formats, including articles, videos, infographics, and webinars, focusing on preparedness, expert insights, industry updates, practical guides, and buying assistance. With over 70 years of industry experience, Global Industrial aims to solidify its role as a key business partner.
Systemax reported a 10.5% increase in net sales for Q1 2021, totaling $251.1 million, compared to $227.3 million in Q1 2020. However, operating income from continuing operations fell 42.6% to $6.6 million, with net income per diluted share declining 33.3% to $0.14. The decline in profitability was attributed to increased costs related to logistics transitions and inflationary pressures. The Board declared a $0.16 dividend per share, reflecting ongoing commitment to shareholders. Systemax aims to enhance fulfillment capabilities and leverage e-commerce growth.
Systemax Inc. (NYSE:SYX) is set to participate in the Wells Fargo 2021 Virtual Industrials Conference on May 6, 2021. CEO Barry Litwin and CFO Tex Clark will engage in a fireside chat at 2:00 p.m. ET, which will be available via webcast. Additionally, management will hold one-on-one meetings with investors. Interested investors should contact their Wells Fargo representative for arrangements. Systemax, through its subsidiaries, specializes in providing industrial products across North America, primarily branded under Global Industrial.
Systemax Inc. (NYSE:SYX) will release its first-quarter financial results for the period ending March 31, 2021, on May 4, 2021, after U.S. market hours. A conference call will be held at 5:00 p.m. Eastern Time on the same day, accessible by dialing 412-317-6347 or via webcast on www.systemax.com. An archived version of the call will be available for around 90 days. Systemax operates through e-commerce and marketing subsidiaries, primarily under its brand, Global Industrial.
Systemax Inc. (NYSE:SYX) announced the launch of the Plan, Procure & Execute program by Global Industrial to aid businesses and schools in their reopening efforts post-pandemic. The program features an interactive virtual experience called 'See Your Space', allowing customers to visualize their spaces and implement safety measures. This initiative underscores Systemax's customer-focused strategy as it aims to support economic recovery across the U.S. and Canada.
Systemax Inc. (NYSE:SYX) announces a partnership with community influencer Terrill Haigler, known as @_YaFavTrashman, aimed at enhancing Philadelphia neighborhoods. The initiative began on March 20 with a successful clean-up event. Senior VP Klaus Werner highlighted the positive community impact, with expectations for an even larger clean-up on April 10. Global Industrial, a Systemax subsidiary, boasts over 70 years in industrial distribution, enhancing its local engagement through this collaboration.
Systemax Inc. (NYSE:SYX) announced that CEO Barry Litwin and CFO Tex Clark will participate in the Sidoti & Company Spring 2021 Virtual Investor Conference. The presentation is scheduled for 1:45 p.m. ET on March 24, 2021. Investors can access the live webcast on Systemax's corporate website. Additionally, management will conduct one-on-one meetings with investors on the same day. Systemax, through its subsidiaries, markets industrial products in North America, primarily under the Global Industrial brand.
Systemax Inc. (NYSE:SYX) announced the federal income tax treatment of its 2020 distributions to shareholders. Key dates include a record date of 3/9/2020 with a total distribution per share of $1.14, and subsequent distributions on 5/11/2020, 8/10/2020, 11/9/2020, and 12/18/2020. The total distribution for the year was $3.56, with $1.74 classified as ordinary dividends. Shareholders are advised to consult their tax advisors regarding the tax implications of these distributions. For more information, visit the company's investor relations page.
