SED International Popping 54% on Positive Quarterly Results

Shares of SED International (NYSE: SED) are seeing much strength during Friday's trading session after the company announced second quarter results yesterday, which surprised investors.

SED International's gross profit percent increased to 9.0%, an increase of 55.2%, to $13.6 million compared to 5.8% or $9.1 million in the comparable period last year.

The company's operating income increased 246% to $4.3 million compared to operating income of $1.2 million in the comparable period last year; net income increased 326% to $3.8 million compared to net income of $0.9 million in the comparable period last year.

Also, EBITDA grew 229% year-over-year to a record $4.6 million compared to $1.4 million. As of December 31, 2011 cash and cash equivalents were $7.5 million, net trade receivables were $58.5 million, net inventories were $55.7 million and working capital was $21.3 million.

Currently, shares of SED are trading over 50% higher at $4.48.