Aqua Power Systems Inc (APSI)

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Tradition has a very healthy Gross Profit for 2020 and 2021! They even have a net profit!

Results of Operations

For the Years Ended December 31,
2021 2020 $ Change % Changes
Freight contract revenue $47,549,777 $38,713,490 $8,836,287 22.82%
Brokerage Revenue $33,211,039 $7,059,381 $26,151,658 370.45%
Equipment lease revenue $6,934,568 $4,219,403 $2,715,165 64.35%
Total contract revenue $87,695,384 $49,992,274 $37,703,110 75.41%
Total warehouse lease revenue $7,762,131 $5,247,966 $2,514,165 47.90%
Total cost of revenue $79,761,364 $45,320,244 $34,441,120 75.99%
Gross Profit $15,696,151 $9,919,996 $5,776,155 58.22%
General and administrative expenses $11,510,850 $8,473,271 $3,037,579 35.84%
Income from operations $4,185,301 $1,446,725 $2,738,576 189.29%
Other income (expense)
Interest expense ($941,273) ($995,900) $54,627 (5.48%)
Gain on disposal of equipment $270,481 ($13,609) $284,090 2087.51%
Fuel rebates $612,010 $438,155 $173,855 39.67%
Contribution revenue – PPP loan $0.00 $1,404,100 ($1,404,100) (100%)
Total other income ($50,356) $947,898 ($998,254) (105.31%)
Income before tax benefit $4,134,945 $2,394,623 $1,740,322 72.67%
Income tax expense ($1,148,000) ($656,000) ($492,000) (75%)

Net income $2,986,945 $1,738,623 $1,248,322 71.79%