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Re: windough-shopper post# 4782

Tuesday, 08/15/2023 2:15:42 PM

Tuesday, August 15, 2023 2:15:42 PM

Post# of 4849
When they bought HTS they stated in a press release:
https://www.globenewswire.com/news-release/2018/10/11/1620033/0/en/Quest-Solution-Announces-the-Acquisition-of-HTS-Image-Processing-Inc-a-Leader-in-Artificial-Intelligence-Based-Automated-Vision-Solutions.html
"For fiscal year 2018, HTS is expected to generate approximately $10 million in revenue with operational profitability and average gross margin of approximately 38% -- significantly higher than Quest’s average gross margin of 21%"

The court noted: "[HTS] Revenue for fiscal year 2017 increased to $4,094,000 - the highest record for the company." It declined after they acquired it because they did not pay their vendors.

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