SED Profit Rises 88 Percent
SED International said Wednesday that its third quarter net income rose 88 percent to $1.1 million, as the distributor reported sales of $155.7 million.
The CE product category, however, dropped from $17.9 million in sales the same period last year to $16.1 million this year.
"Our third quarter results reflect the continued execution of our growth strategy with notable improvement across our operation,” Jonathan Elster, SED’s President and Chief Executive Officer, said as part of the announcement. “Domestic revenues continued to show significant growth driven by strong sales among our e-commerce customers and a 14% year-over-year rise in microcomputer product sales.