Circuit City 2004 Annual Report Download - page 4

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2
PART I
Unless otherwise indicated, all references herein to Systemax Inc. (sometimes referred to as "Systemax", the
"Company" or "we") include its subsidiaries.
Forward Looking Statements
This report 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 Exchange Commission or otherwise. Statements contained in this report 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. Forward looking statements may include, but are not limited to, projections of revenue,
income or loss and capital expenditures, statements regarding future operations, financing needs, compliance with
financial covenants in loan agreements, plans for acquisition or sale of assets or businesses and consolidation of
operations of newly acquired businesses, and plans relating to products or services of the Company, assessments of
materiality, predictions of future events and the effects of pending and possible litigation, as well as assumptions
relating to the foregoing. In addition, when used in this discussion, the words "anticipates," "believes," "estimates,"
"expects," "intends," "plans" and variations thereof and similar expressions are intended to identify forward looking
statements.
Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted
or quantified based on current expectations. Consequently, future events and results could differ materially from those
set forth in, contemplated by, or underlying the forward looking statements contained in this report. Statements in this
report, particularly in "Item 1. Business," "Item 3. Legal Proceedings," "Item 7. Management's Discussion and
Analysis of Financial Condition and Results of Operations," and the Notes to Consolidated Financial Statements
describe certain factors, among others, that could contribute to or cause such differences.
Item 1. Business.
Item 3.
Legal Proceedings
11
Item 4.
Submission of Matters to a Vote of Security Holders
12
Part II
Item 5.
Market for Registrant's Common Equity and Related Stockholder Matters
12
Item 6.
Selected Financial Data
13
Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
15
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
31
Item 8.
Financial Statements and Supplementary Data
32
Item 9.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
32
Item 9A.
Controls and Procedures
32
Part III
Item 10.
Directors and Executive Officers of the Registrant
35
Item 11.
Executive Compensation
35
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
Matters
35
Item 13.
Certain Relationships and Related Transactions
35
Item 14.
Principal Accounting Fees and Services
35
Part IV
Item 15.
Exhibits, Financial Statement Schedules and Reports on Form 8
-
K
36
Signatures
40