Revenue during the quarter grew 5.47 percent to $302.50 million from $286.80 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 23.40 percent. Total expenses were 95.90 percent of quarterly revenues, down from 98.92 percent for the same period last year. This has led to an improvement of 302 basis points in operating margin to 4.10 percent.

Operating income for the quarter was $12.40 million, compared with $3.10 million in the previous year period.

However, the adjusted operating income for the quarter stood at $13.30 million compared to $6.90 million in the prior year period. At the same time, adjusted operating margin improved 199 basis points in the quarter to 4.40 percent from 2.41 percent in the last year period.

Larry Reinhold, chief executive officer, said, "More than a year ago we commenced a strategy to exit our underperforming businesses and streamline our Company. With the sale of the remainder of our underperforming businesses in Europe in March 2017, we have substantially completed this initiative and successfully transformed Systemax. While certain wind down activities remain, Systemax is essentially a new company. The growth, potential and value of our profitable Industrial Products Group and France technology value added reseller businesses are highlighted in the results of our continuing operations. Industrial and France both delivered exceptional performance in the first quarter, generating double digit organic revenue growth and continuing operations leveraged to generate significant operating and net income gains."

Days sales outstanding went down to 62 days for the quarter compared with 81 days for the same period last year.

Days inventory outstanding has decreased to 23 days for the quarter compared with 57 days for the previous year period.