Surge Components, Inc. Reports Earnings Results for the First Quarter Ended February 28, 2019
April 15, 2019 at 09:05 am EDT
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Surge Components, Inc. reported earnings results for the first quarter ended February 28, 2019. For the quarter, net sales increased by 20.4% to $8.4 million, as compared to net sales of $7.0 million for the three months ended February 28, 2018. The increase in net sales for the three month period is primarily attributable to an increase in business with new customers as well as additional business with existing customers. Net income available to common shareholders was $691,297, as compared to a net income available to common shareholders of $33,057 for the three months ended February 28, 2018. Net income per share available to common shareholders was $0.13, as compared to net income per share available to common shareholders of $0.01 for the three months ended February 28, 2018.
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. 
