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CCOM Group reports Q3 2016 results.

BANKING AND CREDIT NEWS-November 16, 2016-CCOM Group reports Q3 2016 results

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CCOM Group, Inc. (OTC Pink: CCOM) has announced financial results for the quarter ended September 30, 2016 compared to results for the same period in 2015, the company said.

Sales increased 7.8% to USD23,984,268 from USD22,247,460; gross profit increased 13.6% to USD6,209,729 from USD5,467,414; selling, general and administrative expenses increased 10.5% to USD5,602,748 from USD5,069,673; operating income increased 52.6% to USD606,981 from USD397,741.

Net income decreased 50.5% to USD162,306 from USD327,734; the 2016 amount includes a USD270,000 non-cash deferred income tax expense (with a corresponding decrease to CCOM's deferred tax asset). There was no income tax expense in 2015.

Net income per share on a fully diluted basis decreased to USD0.02 from USD0.03 per share

Results for the nine months ended September 30, 2016 compared to results for the same period

CCOM Group 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. CCOM is headquartered in New Jersey, and with its affiliates, operates out of 17 locations in its geographic trading area.

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Publication:M2 Banking & Credit News (BCN)
Article Type:Financial report
Date:Nov 16, 2016
Words:248
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