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Nice press release: more revenue, cut their losses

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Syphax   Monday, 06/06/16 11:20:26 AM
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Nice press release: more revenue, cut their losses by $1 million, increased capacity for growth. I'll be adding to my position soon - seems like those who predicted slow, steady, yet significant growth over the medium-term were right.

"First, FY2016 Q4 was a great quarter for PCSV with $1,189,000 (unaudited) in revenue dropping $192,160 (unaudited) in profit to the bottom line. In total, our unaudited revenues for FY2016 were $3,335,612, an increase of 15% compared to last year’s $2,901,113. Although we lost $424,455 (unaudited), it is a significant improvement from FY2015 in which we reported a loss of $1,447,820. Significantly, we accomplished this while decreasing cost of sales by 21% and executing an asset purchase of Thrust-UAV, a new unit that we have funded with additional personnel, R&D equipment, and a new, expanded location for manufacturing and fulfillment. Our Thrust UAV business unit will be announcing distributors, product news, and ship dates later this month. Other Company improvements include expanding our STEM products and sales channels, the development of our digital platform, refining our EdventuresLAB, and exporting STEM programs Internationally. We appreciate your continued support of PCSV."

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