PORT WASHINGTON, N.Y.,
May 16, 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 participating in the
KeyBanc Capital Markets' Industrial & Basic Materials
Conference in Boston on
Thursday, May 30th.
Investors attending the conference who wish to meet with
management should notify their KeyBanc 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; 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 in the future; increases in freight and shipping costs
have from time to time impacted our margins to the extent the
increases could not be passed along to customers in a timely manner
and may impact our margins again in the future, 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.