NEPTUNE, N.J., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, is announcing strong customer demand in the month of October to commence the 4th quarter.
Key Highlights:
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Booked purchase orders through October 28, 2014 of $667,000. This is an annualized pace of over $8,000,000/year.
- The average purchase order for the month of October is $589/order – a significant increase from the average order in October 2013 which was $488/order.
The order growth is primarily attributed to increased sales presence in North Carolina and Pennsylvania, and an increased demand from pool suppliers and automakers.
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "We are experiencing the results of our expanded footprint into North Carolina and Pennsylvania from our acquisition activity. Also, the pool suppliers and automakers are buying earlier than last year. Our healthy October bodes well for a strong 4th quarter and solid finish to the fiscal year."
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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.
Forward-looking Statements
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.