SiliconBeat

Bell Microproducts, the San Jose electronics distributor whose shares were delisted from Nasdaq because the company was persistently delinquent in filing required financial documents with the SEC, became current with its annual financial filings  Monday when it published results for fiscal years 2007 and 2008.

Turns out that 2007 was the best year the company ever had in terms of sales, which hit a record $3.9 billion, up 17 percent from 2006. Last year sales fell 9 percent  to $3.6 billion, “due to the challenging economic environment.”

While the company has yet to file 10-Q results for its 2010 first quarter, it said today it has “realized significant reductions in professional fees, goodwill impairments, other operating expenses and foreign exchange losses to date in 2009 as compared to 2008 levels.  Coupled with stabilized sales levels and significantly reduced operating expenses, the Company believes its operating results have improved dramatically in 2009.”

Bell Micro shares, which trade on the Pink Sheets, climbed 22 cents, or 27.5 percent, to close at $1.02.