Surge Components Announces an Increase in Revenue and Net Income From 2009
DEER PARK, N.Y., March 7, 2011 /PRNewswire/ — Surge Components, Incorporated (OTC-BBO:SPRS), announced 2010 year end financial results. The company’s annual sales for 2010 were $22 million, as compared to $13 million in 2009. The company posted net income of 2 million, or $0.16 per diluted common share for year end 2010, as compared to $316,000, or $0.03 per diluted common share in 2009.
Management is encouraged by the growth in 2010, and looks forward to the future with cautious optimism commented Ira Levy President/ CEO.
About the Company
Surge Components, Inc., supplies electronics components and products to the electronics manufacturing industry. Our products include capacitors, diodes marketed under the Surge Components name, and audible products including transducers, buzzers, speakers, and microphones, marketed under the Challenge Electronics name. The company provides customers with it’s products and services in many market segments including computer, telecom, appliance, security, as well as many others. The company markets and sell it’s products both direct to the end customer, as well as through a network of authorized distributors.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of Section 27A of the securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding the company’s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various import factors, including those described in the Company’s most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements., whether as a results of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
SOURCE Surge Components, Incorporated