Circuit City 2011 Annual Report Download - page 9

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Employees
As of December 31, 2011, we employed a total of approximately 5,500 employees, of whom 4,100 were in North America and 1,400 were in Europe
and Asia.
Seasonality
As the Company’
s consumer channel sales have grown significantly in the past few years, the fourth quarter has represented a greater portion of annual
sales than historically. Net sales have historically been modestly weaker during the second and third quarters as a result of lower business activity
during those months. See Item 7, "Management’s Discussions and Analysis of Financial Condition and Results of Operations - Seasonality."
Environmental Matters
Under various national, state and local environmental laws and regulations in North America and Western Europe, a current or previous owner or
operator (including the lessee) of real property may become liable for the costs of removal or remediation of hazardous substances at such real
property. Such laws and regulations often impose liability without regard to fault. We lease most of our facilities. In connection with such leases, we
could be held liable for the costs of removal or remedial actions with respect to hazardous substances. Although we have not been notified of, and are
not otherwise aware of, any material real property environmental liability, claim or non-compliance, there can be no assurance that we will not be
required to incur remediation or other costs in connection with real property environmental matters in the future.
Financial Information About Foreign and Domestic Operations
We currently sell our products in North America (the United States, Puerto Rico and Canada) and Europe. Approximately 36.0%, 35.1%, and 32.7%
of our net sales during 2011, 2010 and 2009, respectively were made by subsidiaries located outside of the United States. For information pertaining to
our international operations, see Note 12, “Segment and Related Information,” to the Consolidated Financial Statements included in Item 15 of this
Form 10-K. The following sets forth selected information with respect to our operations in those two geographic markets (in thousands):
See Item 7, "Management’s Discussions and Analysis of Financial Condition and Results of Operations", for further information with respect to our
operations.
Available Information
We maintain an internet website at www.systemax.com. We file reports with the Securities and Exchange Commission and make available free of
charge on or through this website our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, including all
amendments to those reports. These are available as soon as is reasonably practicable after they are filed with the SEC. All reports mentioned above
are also available from the SEC’
s website (www.sec.gov). The information on our website is not part of this or any other report we file with, or furnish
to, the SEC.
Table of Contents
North
America
Europe and
Asia
Total
2011
Net sales
$
2,582,214
$
1,099,825
$
3,682,039
Operating income
$
44,755
$
35,772
$
80,527
Identifiable assets
$
646,759
$
242,903
$
889,662
2010
Net sales
$
2,543,014
$
1,046,975
$
3,589,989
Operating income
$
47,739
$
21,006
$
68,745
Identifiable assets
$
665,686
$
228,414
$
894,100
2009
Net sales
$
2,317,475
$
848,520
$
3,165,995
Operating income
$
62,308
$
11,321
$
73,629
Identifiable assets
$
591,990
$
224,911
$
816,901
7