Sterling Consolidated Corporation Increases Customer Base in 2013
(GlobeNewswire Via Acquire Media NewsEdge) NEPTUNE, N.J., Jan. 10, 2014 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, today announced that following its acquisition and ongoing growth, the Company's customer base increased 5% during the full year of 2013.
Sterling Consolidated has continued to expand its O ring distribution network in the Northeast which has led to a significant increase in its customer base. Management is confident that their competitive offerings have positioned the Company for continued growth and expect similar, if not greater results in 2014.
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, stated, "Our aggressive sales efforts coupled with our superior product pricing have driven growth as we continued to expand our footprint in the Northeast region. Throughout 2013, we focused on growing our business organically, and ultimately, our customer base grew 5%. During 2013, one of our potential acquisition targets decided to expand our relationship by becoming a customer, which validated the industry-leading value of our distribution offerings. We plan to continue to execute upon our business strategy and stimulate top line revenue growth for the future."
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers.
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Communications Contacts:
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KCSA Strategic Communications
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Source: Sterling Consolidated Corporation
2014 GlobeNewswire, Inc.
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