Stran & Company reports Q4 EPS 3c vs 0c last year

Reports Q4 revenue $18. 310 M vs $12.627M last year. Andy Shape, President and CEO of Stran, commented, "Throughout 2022, we continued to grow and generated revenue of approximately $59.0 million for the 2022 fiscal year, a 48.5% increase compared to 2021. Importantly, we returned to profitability for the fourth quarter of 2022, generating approximately $18.3 million in revenue and $903,000 of net income compared to $12.6 million in revenue and net loss of $31,000 for the fourth quarter of 2021. We believe these fourth-quarter 2022 results are primarily a result of the investments we have made into the business and enhanced sales and marketing initiatives. We implemented a number of business initiatives during the year with the objective of enhancing our long-term growth and profitability. These initiatives included strategic investments, multiple acquisitions, and implementation of the first phase of NetSuite ERP for improved operational efficiencies and scalability, while managing expenses. We expect to continue these and other efforts toward attaining sustained strong performance. At the same time, we have maintained a solid balance sheet with a combined $25.0 million of cash and short-term investments as of December 31, 2022, with no long-term debt."