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Posted On: 11/21/2018 9:36:55 AM
Post# of 106471
$STCC NEWS
Sterling Consolidated Posts 3rd Quarter Gain, 8% Sales Growth, and Positive Adjusted EBITDA and Cash Flows
NEPTUNE, N.J., Nov. 20, 2018
NEPTUNE, N.J., Nov. 20, 2018 /PRNewswire/ -- Sterling Consolidated Corp. (OTCQB: STCC), a supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, reported its results for the 3 months ended September 30, 2018.
Continued Revenue Growth
Key Highlights for the 3 and 9 months ended:
3rd quarter net income came in at $32,925
Annual 3rd quarter revenues increased to $1,713,726, up 8% from 2017
August 2018 sales surpassed $700,000.
3rd quarter Adjusted EBITDA* came in at $112,727
3rd quarter cash flows from operations came in at $72,091
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "The results of operations indicate a very strong quarter for the Company. We continue to work on our dual strategy of growing through acquisition and endeavoring to introduce Blockchain technology to the o-ring industry with our concept of the DiMO marketplace."
To be added to the Sterling Consolidated investor email list, please email Scott Chichester at schichester@sterlingconsolidated.com
https://www.otcmarkets.com/stock/STCC/news/St...?id=210938
Sterling Consolidated Posts 3rd Quarter Gain, 8% Sales Growth, and Positive Adjusted EBITDA and Cash Flows
NEPTUNE, N.J., Nov. 20, 2018
NEPTUNE, N.J., Nov. 20, 2018 /PRNewswire/ -- Sterling Consolidated Corp. (OTCQB: STCC), a supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, reported its results for the 3 months ended September 30, 2018.
Continued Revenue Growth
Key Highlights for the 3 and 9 months ended:
3rd quarter net income came in at $32,925
Annual 3rd quarter revenues increased to $1,713,726, up 8% from 2017
August 2018 sales surpassed $700,000.
3rd quarter Adjusted EBITDA* came in at $112,727
3rd quarter cash flows from operations came in at $72,091
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "The results of operations indicate a very strong quarter for the Company. We continue to work on our dual strategy of growing through acquisition and endeavoring to introduce Blockchain technology to the o-ring industry with our concept of the DiMO marketplace."
To be added to the Sterling Consolidated investor email list, please email Scott Chichester at schichester@sterlingconsolidated.com
https://www.otcmarkets.com/stock/STCC/news/St...?id=210938
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