M&A from management just keeps adding to the positive success of their growth plan.
Some excerpts
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[OVERALL PERFORMANCE The Company experienced a strong start to 2019 with revenue, EBITDA, and operating cash flow all higher compared to the first quarter of the prior year. Cash flows from operating activities improved by over $1.1 million in the first quarter of 2019 over the comparative quarter of the prior year. Revenue Revenue for the three months ended March 31, 2019 was $3,678,360 an increase of $1.48 million or 67% over the comparative quarter of the prior year.
The first quarter performance reflects significant revenue contribution from both DIMAX and CEMSI; these businesses were acquired on April 30, 2018 and September 20, 2018 respectively. During the first quarter, CEMSI generated robust sales from instrumentation and continuous emission products. DIMAX has expanded its real-time energy management solutions portfolio of buildings. This has resulted in a revenue increase in Q1 2019 over Q4 2018 of its proprietary energy management hardware and software service, which is deployed as a SaaS on a monthly subscription basis. Our energy retrofit business was awarded two sizable mechanical projects in 2018 that involves services coming from three of the Company’s subsidiaries. Based on percentage of completion revenue recognition, these projects have had a favourable impact on Q1 2019 revenue.
Gross profit and expenses Gross profit for the three months ended March 31, 2019 was $1,860,260 an increase of $577,825 over the comparative quarter of the prior year./b]
