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* * * * * * *
SYSTEMAX INC.
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS
For the years ended December 31:
(in thousands)
EXHIBIT INDEX
First Quarter
Second Quarter
Third Quarter
Fourth Quarter
2005:
Net sales
$537,908
$506,142
$488,502
$582,966
Gross profit
$79,775
$71,365
$70,480
$85,667
Net income
$2,638
$1,522
$3,875
$3,406
Net income per common share:
Basic
$.08
$.04
$.11
$.10
Diluted
$.07
$.04
$.11
$.09
2004: (as previously restated
-
see Note 2):
Net sales
$484,507
$433,267
$457,984
$552,389
Gross profit
$76,440
$67,527
$71,249
$71,250
Net income
$3,690
$62
$1,333
$5,103
Net income per common share:
Basic
$.11
$.
--
$.04
$.15
Diluted
$.10
$.
--
$.04
$.14
Description
Balance at
Beginning of
Period Charged to
Expenses Write-offs Other Balance at
End of Period
Allowance for sales returns and doubtful
accounts
2005
$11,318
$7,316
$(6,126
)
$12,508
2004
$10,000
$5,079
$(3,761
)
$11,318
2003
$11,275
$3,906
$(5,181
)
$10,000
Reserve for excess and obsolete inventory
2005
$12,633
$1,519
$(5,160
)
$(509
)
$8,483
2004
$9,022
$8,065
$(4,591
)
$137
$12,633
2003
$8,262
$5,318
$(4,879
)
$321
$9,022
Allowance for deferred tax assets
2005
Current
$413
$114
$527
Noncurrent (1)
$10,643
$5,828
$(1,301
)
$(391
)
$14,779
2004
Current
$698
$(285
)
$413
Noncurrent
$12,953
$1,147
$(3,683
)
$226
$10,643
2003
Current
$1,570
$(872
)
$698
Noncurrent
$12,705
$785
$(976
)
$439
$12,953
Product warranty provisions
2005
$2,011
$21
$(716
)
$1,316
2004
$2,642
$168
$(799
)
$2,011
2003
$2,849
$473
$(680
)
$2,642
(1)
Charges to expense are net of reductions resulting from changes in deferred tax assets due to changes in tax laws.
No.
Description
10.18 Amendment No. 1, dated as of December 19, 2005, to the Amended and Restated , dated as of
October 27, 2005, between JP Morgan Chase Bank, N.A. and affiliates, General Electric
Capital Corporation, and GMAC Commercial Finance LLC (as Lenders) with the Company
and certain subsidiaries of the Company (as Borrowers)
10.19 Lease agreement, dated December 8, 2005, between the Company and Hamilton Business
Center, LLC (Buford, Georgia facility)