Friday, June 05, 2020 7:31:40 PM
News
Company Releases Quarterly Financial Report for the Three Months ending March 31 ,2020
June 5, 2020
Tesoro Enterprises, Inc. (TSNP) has released its Quarterly Report for the three months ended March 31,2020. Net sales for the three months period ending March 31,2020 were $ 26,310 compared to Net Sales of $ 40,425 for the period ending March 31,2019. Net income for the three month period ending March 31, 2020 was $ 3,229 compared to Net (Loss) of $ 315 for the three month period ending March 31, 2019. Financial Statement for the periods ending March 31, 2020, December 31, 2019 and December 31, 2018 are embedded below.
Company CEO, Henry J. Boucher, stated that " net income for the three months ended March 31, 2020 is higher than the three months ended March 31, 2019 due to lower operating costs resulting from the COVID- 19 Virus which began to impact the company toward the end of the first quartero of 2020. The major impact of the pandemic has been the reluctance of customers to allow installation of our products during the distancing period of the crisis. he also stated that he expects the sloww down to continue into the second quarter.The company continues to evaluate potental business combinations.
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