Systemax 2nd-quarter profit slips 2 percent

Shares of Systemax Inc. advanced Friday despite the computer product maker and distributor's report that its second-quarter profit slipped 2 percent on higher expenses.

Shares gained 46 cents, or 2.8 percent, to finish at $16.85. The stock has traded between $9.01 and $25.27 in the past 12 months.

After the market closed Thursday, the company reported net income of $13.5 million, or 36 cents per share, compared with $13.8 million, or 37 cents per share, in the year-ago period.

Total sales rose 17 percent to $756 million from $647.1 million in the second quarter of last year, driven by strong demand in both North America and Europe, the company said.

Input costs jumped 17 percent to about $640 million, while selling, general and administrative expenses increased 20 percent to $95 million.

Results were also hurt by lower interest income and higher income tax expense, Systemax said.