Surge Components, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2022
July 15, 2022 at 09:01 am EDT
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Surge Components, Inc. reported earnings results for the second quarter and six months ended May 31, 2022. For the second quarter, the company reported sales was USD 15.9 million compared to USD 9.59 million a year ago. Net income was USD 0.862411 million compared to USD 0.704108 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.12 a year ago.
For the six months, sales was USD 26.42 million compared to USD 17.75 million a year ago. Net income was USD 1.53 million compared to USD 0.981772 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.18 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.17 a year ago.
Surge Components, Inc. is a supplier of electronic products and components. The Company operates with two sales groups, Surge Components (Surge) and Challenge Electronics (Challenge). Its products include capacitors, which are electrical energy storage devices, and discrete components, such as semiconductor rectifiers, transistors and diodes, which are single function low power semiconductor products that are packaged alone as compared to integrated circuits such as microprocessors. The products that the Company sells are utilized in the electronic circuitry of diverse products, including, but not limited to, automobiles, audio products, temperature control products, lighting products, energy related products, computer related products, various types of consumer products, garage door openers, household appliances, power supplies and security equipment. The Companyâs products include buzzers, speakers, microphones, resonators, alarms, chimes, filters, and discriminators.
SURGE COMPONENTS, INC. 
