Surge Components, Inc. Reports Earnings Results for the Third Quarter Ended August 31, 2019
October 15, 2019 at 06:53 am EDT
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Surge Components, Inc. announced earnings results for the third quarter ended August 31, 2019. For the third quarter, the company announced sales was USD 8.085 million compared to USD 9.281 million a year ago. Operating income was USD 601,377 compared to USD 367,961 a year ago. Net income was USD 679,271 compared to USD 337,558 a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to USD 0.06 a year ago. For the nine months, sales was USD 24.957 million compared to USD 23.526 million a year ago. Operating income was USD 1.709 million compared to USD 628,232 a year ago. Net income was USD 1.834 million compared to USD 541,424 a year ago. Basic earnings per share from continuing operations was USD 0.35 compared to USD 0.1 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.1 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. 
