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