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<SEC-DOCUMENT>0000899681-05-000698.txt : 20051114
<SEC-HEADER>0000899681-05-000698.hdr.sgml : 20051111
<ACCEPTANCE-DATETIME>20051114082127
ACCESSION NUMBER:		0000899681-05-000698
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20051107
ITEM INFORMATION:		Changes in Registrant.s Certifying Accountant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20051114
DATE AS OF CHANGE:		20051114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SYSTEMAX INC
		CENTRAL INDEX KEY:			0000945114
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				113262067
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13792
		FILM NUMBER:		051196445

	BUSINESS ADDRESS:	
		STREET 1:		22 HARBOR PARK DR
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5166087000

	MAIL ADDRESS:	
		STREET 1:		22 HARBOR PARK DRIVE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL DIRECTMAIL CORP
		DATE OF NAME CHANGE:	19950509
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>systemax-8k_111005.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY>


<P ALIGN=CENTER><FONT SIZE=3>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT></P>

<HR SIZE=1 WIDTH=35% ALIGN=CENTER>

<P ALIGN=CENTER><FONT SIZE=3><B>FORM 8-K</B><BR>
<BR>
CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
Date of Report (Date of earliest event reported): November 7, 2005<BR>
<BR>
<B>Systemax Inc.</B><BR>
(Exact Name of Registrant as Specified in Charter)</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=33% ALIGN=CENTER>
<B>Delaware</B><BR>
(State or Other Jurisdiction<BR>
of Incorporation)</TD>
<TD WIDTH=33% ALIGN=CENTER>
<B>1-13792</B><BR>
(Commission<BR>
File Number)</TD>
<TD WIDTH=34% ALIGN=CENTER>
<B>11-3262067</B><BR>
(IRS Employer<BR>
Identification No.)</TD>
</TR>
</TABLE>
<BR>


<P ALIGN=CENTER><FONT SIZE=3><B>11 Harbor Park Drive<BR>
Port Washington, New York 11050</B><BR>
(Address of Principal Executive offices, including Zip Code)</FONT></P>

<P ALIGN=CENTER><FONT SIZE=3>Registrant's telephone number, including area code:
<B>(516) 608-7000</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3><B>N.A.</B><BR>
(Former Name or Former Address, if Changed Since Last Report)</FONT></P>

<P><FONT SIZE=3>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions (<I>see</I> General Instruction A.2
below): </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14-12)
</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240-14d-2(b))
</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT>|__|</TD>
<TD WIDTH=95%>Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CRF 240.13e-4(c))
</TD>
</TR>
</TABLE>
<BR>


<P ALIGN=CENTER><FONT SIZE=3>Page 1 of __</FONT></P>

<PAGE>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><B><U>Item 4.01</U></B></TD>
<TD WIDTH=90%><B>Changes in Registrant's Certifying Accountants.</B>
</TD>
</TR>
</TABLE>
<BR>


<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
November 7, 2005, our certifying accountant, Deloitte &amp; Touche LLP, notified
our chief financial officer that it will not stand for re-appointment as the
Company's independent registered public accountant for the year ending December
31, 2005, stating that the client-auditor relationship would cease upon our
filing our Form 10-K/A for the fiscal year ended December 31, 2004. A copy of
our press release announcing such notification is filed as Exhibit 99.1.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During our two most recent fiscal years and the subsequent interim period
preceding the notification from Deloitte &amp; Touche on November 7, 2005: (i)
there were no disagreements between us and Deloitte &amp; Touche on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreement, if not resolved to the
satisfaction of Deloitte &amp; Touche, would have caused it to make reference to
the subject matter of the disagreement in connection with its reports; and (ii)
there were "reportable events" (as defined in Item 304(a)(1)(v) of Regulation
S-K) as described in the paragraph below . In addition, Deloitte &amp; Touche's
reports on our consolidated financial statements for the past two years did not
contain an adverse opinion or a disclaimer of opinion, nor were such reports
qualified or modified as to uncertainty, audit scope, or accounting principles;
however, the 2003 report of Deloitte &amp; Touche issued in connection with the
2003 Form 10-K/A contained an explanatory paragraph which addressed the
restatement of such year's consolidated financial statements for the correction
of an error. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During our two most recent fiscal years and the subsequent interim period
preceding the notification from Deloitte &amp; Touche on November 7, 2005, the
following reportable events occurred which caused our auditors to significantly
increase the scope of their audit work: (i) An investigation was conducted in
2004 of certain possible irregularities committed by former employees of a
subsidiary of the Company in connection with a promotional program. (ii)
Deloitte &amp; Touche issued a material weakness letter to us, as previously
disclosed in Item 9A of our Annual Report on Form 10-K for the year ended
December 31, 2004, which addressed (together with material weaknesses identified
by management related to errors at the Company's United Kingdom subsidiary which
gave rise to the restatement referred to in the prior paragraph) the dependency
on back end detective controls to overcome system shortcomings and inadequate
financial controls, communication and authority on the part of our management
over the Company's operating subsidiaries. (iii) The restatement of our
consolidated financial statements for our years ended December 31, 2004, 2003
and 2002, currently in progress, which resulted principally from the discovery
of errors in accounting for inventory at our Tiger Direct subsidiary as to 2004
and the timing of revenue recognition as it relates to all years.</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
These matters were discussed in detail among management, the audit committee and
our independent registered public accountants. The Company has authorized
Deloitte &amp; Touche to respond fully to inquiries of the successor accountant
concerning the subject matter of the material weakness. </FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have provided Deloitte &amp; Touche with a copy of the above disclosures and
requested that Deloitte &amp; Touche furnish us with a letter addressed to the
Securities and Exchange Commission stating whether it agrees with such
statements made by the Company. As of the time of filing of this Form 8-K, we
had not received such letter and have accordingly requested that Deloitte &amp;
Touche provide the letter as promptly as possible so that we can file the letter
with the Commission within ten business after the filing of this report. We
shall file such letter within two business days of its receipt of a Form 8-K/A.
</FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are currently engaged in discussions with auditing firms to replace Deloitte
&amp; Touche and serve as our independent registered accounting firm. Engagement
of a new registered public accounting firm will be approved by the Audit
Committee of the Board of Directors. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT><B><U>Item 9.01.</U></B></TD>
<TD WIDTH=90%><B>Financial Statements and Exhibits.</B>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT></TD>
<TD WIDTH=5%>(c)</TD>
<TD WIDTH=90%>Exhibits.</TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10% ALIGN=LEFT></TD>
<TD WIDTH=5%>99.1</TD>
<TD WIDTH=85%>Press Release of Systemax Inc., dated November 11, 2005</TD>
</TR>
</TABLE>
<BR>


<PAGE>


<P ALIGN=CENTER><FONT SIZE=3><B>SIGNATURES</B></FONT></P>

<P><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50% ALIGN=LEFT></TD>
<TD WIDTH=50%>
SYSTEMAX INC.<BR>
<BR>
By: <U>/s/ Steven Goldschein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;Steven Goldschein<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and CFO
</TD>
</TR>
</TABLE>
<BR>
<BR>


<P ALIGN=LEFT><FONT SIZE=3>Dated: November 11, 2005</FONT></P>


<PAGE>


<P ALIGN=CENTER><FONT SIZE=3>Exhibit Index</FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT></TD>
<TD WIDTH=5%>99.1</TD>
<TD WIDTH=90%>Press Release of Systemax Inc., dated November 11, 2005</TD>
</TR>
</TABLE>
<BR>




</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>systemax-ex991_111005.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Ex-99.1</TITLE>
</HEAD>
<BODY>

<P ALIGN=RIGHT><FONT SIZE=3><B>Exhibit 99.1</B></FONT></P>


<IMG SRC="system.jpg">


<P ALIGN=LEFT><FONT SIZE=3><B>INVESTOR CONTACT:<BR>
Steven M. Goldschein<BR>
516 608-7000</B></FONT></P>

<HR SIZE=1>

<P ALIGN=CENTER><FONT SIZE=3>SYTEMAX INC. ANNOUNCES NOTIFICATION BY CERTIFYING<BR>
ACCOUNTANT OF ITS DECISION NOT TO SEEK RE-APPOINTMENT</FONT></P>

<P><FONT SIZE=3><B>PORT WASHINGTON, NY,</B> November 11, 2005 &#150; Systemax
Inc. (NYSE:SYX), a leading distributor and manufacturer of PC hardware, related
computer products and industrial products in North America and Europe, announced
today that its certifying accountant, Deloitte &amp; Touche LLP, notified the
Company that it will not stand for re-appointment as the Company&#146;s
independent registered public accountant for the year ending December 31, 2005,
stating that the client-auditor relationship would cease upon the Company&#146;s
filing its Form 10-K/A for the fiscal year ended December 31, 2004. The Audit
Committee has commenced the process of selecting an independent registered
public accounting firm to replace Deloitte &amp; Touche LLP as the
Company&#146;s principal accountant. </FONT></P>

<P><FONT SIZE=3>The Company currently expects to file its Form 10-K/A for the
fiscal year ended December 31, 2004 in approximately ten days. However, the
Company anticipates that the need to engage new auditors will continue to delay
the announcement of its financial results and filing of its quarterly reports on
Form 10-Q for the three quarters of fiscal year 2005. </FONT></P>

<P><FONT SIZE=2>Systemax (<U>www.systemax.com</U>) utilizes an integrated system
of branded e-commerce web sites, direct mail catalogs and relationship marketers
to sell PC hardware, related computer products and industrial products in North
America and Europe. Systemax is a Fortune 1000 company. </FONT></P>

<P ALIGN=LEFT><FONT SIZE=3><B>Forward-Looking Statements</B></FONT></P>

<P><FONT SIZE=2>This press release may contain forward-looking statements about
the Company&#146;s performance. These statements are based on management&#146;s
estimates, assumptions and projections and are not guarantees of future
performance. The Company assumes no obligation to update these statements.
Actual results may differ materially from results expressed or implied in these
statements as the result of risks, uncertainties and other factors including,
but not limited to: (a) unanticipated variations in sales volume, (b) economic
conditions and exchange rates, (c) actions by competitors, (d) the continuation
of key vendor relationships, (e) the ability to maintain satisfactory loan
agreements with lenders, (f) risks associated with the delivery of merchandise
to customers utilizing common carriers, (g) the operation of the Company&#146;s
management information systems, and (h) unanticipated legal and administrative
proceedings. Please refer to the Forward Looking Statements section contained in
Part I and Factors That May Affect Future Results and Financial Condition in
Item 7 of the Company&#146;s Form 10-K for a more detailed explanation of the
inherent limitations in such forward-looking statements. </FONT></P>




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
