HAWTHORNE, N.J.--(BUSINESS WIRE)--CCOM Group, Inc. (OTC Pink: “CCOM,” “CCOMP”), announced its financial results for the quarter and nine months ended September 30, 2020.

Results for the quarter ended September 30, 2020 compared to results for the same period in 2019:

• Sales decreased 11.7% to $28,185,554 from $31,903,370
• Gross profit decreased 4.6% to $7,401,499 from $7,759,476
• Selling, general and administrative expenses decreased 7.3% to $6,169,708 from $6,658,897
• Operating income increased 11.9% to $1,231,791 from $1,100,579
• Net income increased 18.1% to $917,443 from $776,788; the 2020 and 2019 amounts include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset).
• Net income per share on a fully diluted basis increased to $0.09 per share from $0.08 per share

Results for the nine months ended September 30, 2020 compared to results for the same period in 2019:

• Sales decreased 10.6% to $77,279,836 from $86,396,102
• Gross profit decreased 9.6% to $19,979,153 from $22,096,617
• Selling, general and administrative expenses decreased 6.7% to $18,242,620 from $19,553,634
• Operating income decreased 23.1% to $1,618,161 from $2,104,893
• Net income decreased 31.4% to $1,161,213 from $1,693,443; the 2020 and 2019 amounts include a $316,666 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset).
• Net income per share on a fully diluted basis decreased to $0.12 per share from $0.17 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.ccomgrp.com.