Surge Components, Inc. Reports Earnings Results for the Second Quarter Ended May 31, 2020
July 15, 2020 at 09:04 am EDT
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Surge Components, Inc. announced earnings results for the second quarter ended May 31, 2020. For the second quarter, the company announced sales was USD 6.647 million compared to USD 8.464 million a year ago. Operating income was USD 133,287 compared to USD 524,425 a year ago. Net income was USD 77,950 compared to USD 461,632 a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.09 a year ago. For the half year, sales was USD 13.436 million compared to USD 16.872 million a year ago. Operating income was USD 163,621 compared to USD 1.108 million a year ago. Net loss was USD 185,852 compared to net income of USD 1.155 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to diluted earnings per share from continuing operations of USD 0.21 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. 
