Surge wanted to take the time to reflect on all of the great things that happend for us in 2019. Please read our 2019 Year End Review to help show the foundation we have built that will lead us to a great 2020!
Surge is committed to starting the new year stronger than ever. To achieve this, Surge has developed partnerships with representatives in strategic territories in order to have continued success in the future. Some of the newer engagements include Challenge Sales, Earle Associates, and Compass Technology.
In addition, Surge has expanded our local sales force in the Silicon Valley region, with our new Sales Executive, Angel Wu, located in Santa Clara. Surge is driven to successfully engage and support our customers, sales representatives, and distribution channels, and will continue to do so throughout the new year.
Deer Park, NY -- Surge Components (OTCMKTS: SPRS) - a supplier of electronic products and components, on Monday reported a surge in both its revenue and profit in the fiscal first quarter, driven by improved sales. The news triggered a sharp rise in the company’s share price, which popped by 46% to close at $2.75 Monday.
In the three months until February 28, the company’s net income jumped to $691,297, or $0.13 per share, compared to $33,057, or $0.01 per share, in the year-ago quarter. Its sales, meanwhile, climbed by 20% to $8.4 million, up from $7 million in the year-ago quarter.
"Surge is off to an excellent start to 2019," said Ira Levy, Chief Executive Officer. "We delivered year-over-year growth in net sales of 20.4% and a 28.1% increase in gross profit in the first quarter. Driven by a strong sales pipeline of customers in a wide variety of viable markets, we also generated a 27.6% gross profit margin."
Looking ahead, Levy is focused on positioning Surge, which makes capacitors, discrete semiconductors and switches as a top supplier of electronic products and components.
Surge Components Inc.
95 E. Jefryn Blvd.
Deer Park, NY 11729
Flat H, 14/F High Win Factory Building
47 Hoi Yuen Road, Kowloon, Hong Kong
Phone: 852- 2172-7607