PORT WASHINGTON, N.Y.,
March 20, 2019 /PRNewswire/
-- Systemax Inc. (NYSE: SYX) today announced that
Barry Litwin, Chief Executive
Officer, and Tex Clark, Vice
President and Chief Financial Officer, will be attending the Sidoti
& Company Spring 2019 Conference in New York City. The Company will present at
1:30 p.m. ET on Thursday, March 28,
2019. A live broadcast and replay of the presentation will be
made available to the public via audio webcast, which can be
accessed by visiting the investor relations section of Systemax's
corporate website. The webcast will be archived for thirty days.
Investors attending the conference who wish to meet with Systemax
management should notify their Sidoti representative.
About Systemax Inc.
Systemax Inc. (www.systemax.com),
through its operating subsidiaries, is a provider of industrial
products in North America going to
market through a system of branded e-Commerce websites and
relationship marketers. The primary brand is Global Industrial.
Forward-Looking Statements
This press release contains forward looking statements within
the meaning of that term in the Private Securities Litigation
Reform Act of 1995 (Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934).
Additional written or oral forward-looking statements may be made
by the Company from time to time in filings with the Securities and
Exchange Commission or otherwise. Any such statements that
are not historical facts are forward looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and are based on management's
estimates, assumptions and projections and are not guarantees of
future performance. Forward looking statements may include,
but are not limited to statements regarding: i) projections or
estimates of revenue, income or loss, exit costs, cash flow needs
and capital expenditures; ii) fluctuations in general economic
conditions; iii) future operations, such as, plans relating to new
distribution facilities, plans for utilizing alternative sources of
supply in response to government tariffs and trade actions, and
plans for new products or services; iv) plans for acquisition
or sale of businesses, including expansion or restructuring plans,
such as our exit from and winding down of our North American
Technology Group ("NATG") and European operations; v) financing
needs, and compliance with financial covenants in loan
agreements; vi) assessments of materiality; vii) predictions of
future events and the effects of pending and possible litigation;
and viii) assumptions relating to the foregoing. In addition, when
used in this release, the words "anticipates", "believes",
"estimates", "expects", "intends", and "plans" and
variations thereof and similar expressions are intended to identify
forward looking statements.
Other factors that may affect our future results of
operations and financial condition include, but are not limited to,
unanticipated developments in any one or more of the following
areas, as well as other factors which may be detailed from time to
time in our Securities and Exchange Commission filings: general
economic conditions, such as customer inventory levels, interest
rates, borrowing ability and economic conditions in the
manufacturing industry generally, will continue to impact our
business; distribution facility risks; the imposition of tariffs
and other trade barriers, as well as retaliatory trade measures,
have caused us to raise the prices on certain of our products and
seek alternate sources of supply, which could negatively impact our
sales or disrupt our operations; increases in freight and shipping
costs could affect our margins to the extent the increases cannot
be passed along to customers, and factors affecting the shipping
and distribution of products imported to the United States by us or our domestic
vendors, such as global availability of shipping containers and
fuel costs; our reliance on common carrier delivery services for
shipping inventoried merchandise to customers; our reliance on drop
ship deliveries directly to customers by our product vendors for
products we do not hold in inventory; delays in the timely
availability of products from our suppliers could delay receipt of
needed product and result in lost sales; our ability to maintain
available capacity in our distribution operations for stocked
inventory and to enable on time shipment and deliveries, such as by
timely implementing additional temporary or permanent distribution
resources, whether in the form of additional facilities we operate
or by outsourcing certain functions to third party distribution and
logistics partners; we compete with other companies for recruiting,
training, integrating and retaining talented and experienced
employees, particularly in markets where we and they have central
distribution facilities; this aspect of competition is aggravated
by the current tight labor market in the U.S.; risks involved with
e-commerce, including possible loss of business and customer
dissatisfaction if outages or other computer-related problems
should preclude customer access to our products and services; our
information systems and other technology platforms supporting our
sales, procurement and other operations are critical to our
operations and disruptions or delays have occurred and could occur
in the future, and if not timely addressed could have a material
adverse effect on us; a data security breach due to our e-commerce,
data storage or other information systems being hacked by those
seeking to steal Company, vendor, employee or customer information,
or due to employee error, resulting in disruption to our
operations, litigation and/or loss of reputation or business;
managing various inventory risks, such as being unable to
profitably resell excess or obsolete inventory and/or the loss of
product return rights from our vendors; meeting credit card
industry compliance standards in order to maintain our ability to
accept credit cards; rising interest rates, increased borrowing
costs or limited credit availability, including our own ability to
maintain satisfactory credit agreements and to renew credit
facilities, could impact both our and our customers' ability to
fund purchases and conduct operations in the ordinary course;
pending or threatened litigation and investigations, as well as
anti-dumping and other government trade and customs proceedings,
could adversely affect our business and results of operations;
sales tax laws or government enforcement priorities may be changed
which could result in e-commerce and direct mail retailers having
to collect sales taxes in states where the current laws and/or
prior interpretations do not require us to do so; and extreme
weather conditions could disrupt our product supply chain and our
ability to ship or receive products, which would adversely impact
sales.
Investor/Media Contacts:
Mike
Smargiassi
The Plunkett Group
212-739-6740
mike@theplunkettgroup.com
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SOURCE Systemax Inc.
