CCOM Group, Inc. Reports 2020 Results
CCOM Group, Inc. (“CCOM”) (OTC Pink: “CCOM,” “CCOMP”), announced its financial results for the year ended December 31, 2020.
Results for the year ended December 31, 2020 compared to results for the same period in 2019:
-
Sales decreased
10.3% to$101,936,300 from$113,701,032 -
Gross profit decreased
9.7% to$26,213,512 from$29,016,775 -
Selling, general and administrative expenses decreased
6.7% to$24,600,667 from$26,375,014 -
Operating income decreased
38.9% to$1,612,845 from$2,641,761 -
Net income decreased
19.4% to$1,053,885 from$1,308,234 ; the 2020 amount includes a$250,425 non-cash income tax expense and the 2019 amount includes a$596,000 non-cash income tax expense -
Net income per share on a fully diluted basis decreased to
$0.11 per share from$0.13 per share
About CCOM Group, Inc.
CCOM Group, Inc. (“CCOM”) distributes heating, ventilating and air conditioning equipment (HVAC), parts and accessories, whole-house generators, climate control systems, and plumbing and electrical fixtures and supplies, primarily in New Jersey, New York, Massachusetts and portions of eastern Pennsylvania, Connecticut and Vermont through its subsidiaries: Universal Supply Group, Inc., www.usginc.com, The RAL Supply Group, Inc., www.ralsupply.com, and S&A Supply, Inc., www.sasupplyinc.com. CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 15 locations in its geographic trading area. For more information on CCOM’s operations, products and/or services, please visit www.ccom-group.com.
For further information, please contact Peter D. Gasiewicz, Chief Executive Officer, or William Salek, Chief Financial Officer, at (973) 427-8224.
(Financial Highlights Follow)
| CCOM GROUP, INC. AND SUBSIDIARIES | ||||||
| Consolidated Balance Sheets | ||||||
| December 31, | December 31, | |||||
|
2020 |
|
2019 |
|||
Assets |
||||||
| Current assets: | ||||||
| Cash | $ |
388,267 |
$ |
193,448 |
||
| Accounts receivable, net of allowance for doubtful accounts of |
|
10,305,665 |
|
11,260,382 |
||
| Inventory |
|
20,936,936 |
|
17,858,956 |
||
| Prepaid expenses and other current assets |
|
749,053 |
| |||
