WEB NEWS Research
Surge Components (OOTC:SPRS), a supplier of electrical components and products announced Q4 2022 results:
“The Company is thrilled with the sales growth achieved this year, generating 30.3% year over year growth with our largest recorded sales volume. By prioritizing cost management and a relentless focus on sales, we achieved an astounding 31.5% gain in gross profit and strong gross margins of 27.6% in 2022. Although a global economic slowdown is currently present, the company is taking protective measures to safeguard the business against future negative impacts. Our ability to provide products with shorter lead times than our peers, in both the Surge and Challenge divisions, has allowed us to overcome supply chain challenges and maintain an impressive competitive edge...
...Looking forward to 2023, we are deeply committed to meeting the needs of all our stakeholders, while consistently providing exceptional products and prioritizing profitability for our shareholders. We are dedicated to strengthening our sales team and extending our global presence, capitalizing on every opportunity that lies ahead. We firmly believe that we are well positioned to succeed in this industry and continue to deliver enduring value to our shareholders.”
Research
Surge Components (OOTC:SPRS) ($2.65; $13.9M market cap), a supplier of electrical components and products announced Q2 2019 results:
Sales of $8.5 million vs $7.3 million in the prior year
EPS of $0.09 vs $0.03
“We delivered another strong performance in the second quarter. Driven by robust sales to new and existing high-margin customers, net sales increased 16.6% and gross profit increased 28.6% on a year-over-year basis. A continued focus on maximizing profitability on a global scale also helped us deliver $1.1 million in net income in the first six months of the year, our strongest performance in the Company's history and a testament to our disciplined approach to growth and profitability.
Our results reflect our ongoing commitment to strengthening our world-class supply chain relationships, increasing our sales volumes and continuing to grow our international footprint. We also continue to expand our product offering, providing a total solution to the market, further strengthening our leadership position in the electronics components industry. This diversified offering and global presence are also helping us to more effectively mitigate the ongoing impact of tariffs as we continue to shift some customer deliveries directly to Hong Kong.”
Comments & Business Outlook
Third Quarter 2016 Results
Sales of $8.2 million vs $8.3 million in prior year
EPS of $0.04 vs $0.04 in the prior year
Qutoes from managment:
“This was a strong quarter for our business. Following a challenging first-half of the year due primarily to macroeconomic headwinds, our operational strategies and initiatives are taking shape, driving a strong sales pipeline. In addition, we have begun to further focus our sales efforts on higher margin customers. We are particularly pleased with the 6.6% year-over-year increase in gross profits and the 26% gross profit margin during the quarter.
“Building off of eight consecutive years of strong growth, we are working diligently to build a robust customer base, including Fortune 500 technology companies and other businesses in various market segments, with noteworthy newer representation from certain high-growth areas such as energy, security, medical, and electronic games.
“Additionally, in the third quarter, we continued to leverage operational and profitability efficiencies across our two sales groups, Surge Components and Challenge Electronics, and have also been growing our sales force. As part of this effort, we have recently begun expanding our geographic footprint in the South American market, beginning in Brazil, and we are already making headway in that region. From a macroeconomic standpoint, our customers are experiencing more favorable tailwinds, which have led to increased sales in China, Canada, and other areas of Asia over the first three quarters of this year.
“Finally, the management and the board of directors of Surge have been developing strategic plans and initiatives for utilizing the cash on our balance sheet. This includes our current share repurchase program. Our focus is on ensuring that we have the right resources to compete and to create maximum efficiency in the business. We are taking a thoughtful and deliberate approach to this process to make certain that our cash is deployed to create the most value for our shareholders.”
