SYX Systemax Inc

/C O R R E C T I O N -- Systemax/ In the news release, Systemax Reports 8.8% Sales Increase, issued earlier today by Systemax over PR Newswire, the dates in the Condensed Consolidated Statements of Operations table were inverted, as incorrectly transmitted by PR Newswire. The complete corrected version of the table follows: SYSTEMAX INC. Condensed Consolidated Statements of Operations (In thousands, except per share and share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2003 2002 2003 2002 Net Sales $405,011 $372,139 $1,220,270 $1,148,170 Cost of Sales 337,900 309,413 1,017,156 949,657 Gross Profit 67,111 62,726 203,114 198,513 Selling, General and Administrative Expenses 64,822 60,032 190,305 194,440 Restructuring and Other Charges (1,272) 1,110 (1,160) 15,846 Goodwill Impairment 2,560 Income (Loss) From Operations 3,561 1,584 11,409 (11,773) Interest And Other Expense, Net 542 681 1,075 921 Income (Loss) Before Income Taxes 3,019 903 10,334 (12,694) Provision (Benefit) For Income Taxes 1,112 1,630 5,256 (3,725) Income (Loss) Before Cumulative Effect of Change in Accounting Principle, net of tax 1,907 (727) 5,078 (8,969) Cumulative Effect of Change in Accounting Principle, net of tax (50,971) Net Income (Loss) $1,907 $(727) $5,078 $(59,940) Net Income (Loss) Per Common Share, Basic: Income (Loss) Before Cumulative Effect of Change in Accounting Principle, net of tax $.06 $(.02) $.15 $(.26) Cumulative Effect of Change in Accounting Principle, net of tax (1.50) Net Income (Loss) $.06 $(.02) $.15 $(1.76) Net Income (Loss) Per Common Share, Diluted: Income (Loss) Before Cumulative Effect of Change in Accounting Principle, net of tax $.05 $(.02) $.15 $(.26) Cumulative Effect of Change in Accounting Principle, net of tax (1.50) Net Income (Loss) $.05 $(.02) $.15 $(1.76) Weighted Average Common And Common Equivalent Shares: Basic 34,158,754 34,104,290 34,123,931 34,104,290 Diluted 35,127,597 34,104,290 34,671,742 34,104,290 DATASOURCE: Systemax Inc. CONTACT: PRNewswire -- Nov. 11 Web site: http://www.systemax.com/

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