Record Receivables and Deferred Revenues of $9.6 Million and $18.5 Million, Respectively, Lead the Quarter
SAN DIEGO, CA--(NewMediaWire - Feb 27, 2017) - Generation NEXT Franchise Brands (OTCQB: VEND) reports financial results for its second fiscal quarter December 31, 2016.
Overview and highlights for the second quarter of fiscal 2017 as compared to the second quarter of fiscal 2016:
•Reis & Irvy's bookings aggregated 143 units and $5.5 million compared to zero in the prior year;
Accounts receivables aggregated $9.6 million compared to $1.8 million;
Deferred revenue increased to $18.5 million compared to $8.1 million;
The Company's operations provided $799k cash compared to using $527k cash in the prior period;
Major milestone achieved in booking our 500th froyo unit in December 2016.
