Surge Components Q3 sales fall on lower customer volumes
Surge Components Q3 sales fall on lower customer volumes
Overview
US electronic components supplier's Q3 net sales declined yr/yr
Gross profit for Q3 fell yr/yr
Q3 EPS dropped to $0.04 from $0.08 yr/yr
Outlook
Company anticipates ongoing customer pressure for price reductions, which may impact margins
Result Drivers
LOWER CUSTOMER VOLUME - Co said Q3 sales decline was due to decreased volume from certain customers
PRODUCT MIX - Co said lower Q3 gross profit was due to decreased business with existing customers and sales of lower-margin products
HIGHER SELLING EXPENSES - Co said increased Q3 selling expenses were due to hiring more sales personnel and higher commissions
Company press release: ID:nBwc2QT97a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| $10.10 mln |
|
Q3 EPS |
| $0.04 |
|
Q3 Gross Margin |
| 27.1% |
|
Q3 Gross Profit |
| $2.70 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)