InvestorsHub Logo
Followers 3
Posts 150
Boards Moderated 0
Alias Born 03/15/2013

Re: None

Friday, 09/20/2013 10:01:20 AM

Friday, September 20, 2013 10:01:20 AM

Post# of 20722
Inova Revenue Increased 90% to $7.6 Million for Quarter

Inova Technology (OTCBB:INVA), announced that its revenue increased by $3.6 million from $4 million for the preceding quarter to $7.6 million in the quarter ending July 2013 representing an increase of 90%.

Inova CEO, Adam Radly, said, "$7.6 million of revenue in one quarter is obviously an excellent result for us. We were close to full capacity for the entire quarter and our team did a great job of getting projects completed on time and on budget for our customers."

The Company previously announced that it has as a backlog of awarded contracts worth $42 million. More information regarding the backlog can be found in the press release dated July 2, 2013. Inova CEO, Adam Radly, said, "We will commence the new sales season in October and will look to add to the current backlog. The Company's current contract backlog is very healthy and gives us and our stakeholders a lot of visibility into our future revenue."

Mr. Radly also said, "We will continue to provide updates regarding the commencement and completion of the major projects that we have previously announced over time as they occur."

The majority of the projects in the current backlog are network solutions projects for government customers in the Texas area. The backlog includes more than 15 customers and consists of a combination of both new and previous customers. The larger projects are network solutions projects for Ft Worth and Dallas School Districts. These projects do not represent all of Inova's revenue for any given period. They only reflect a portion of the revenue generated by Desert Communications and exclude revenue from its other subsidiary, Trakkers.

About Inova Technology

Inova Technology, Inc. (INVA) is an enterprise level Information Technology solutions provider specializing in providing proprietary RFID solutions, wireless networking, storage and security technology solutions and IT professional services. For more information please visit the company website at: http://www.inovatechnology.com. Contact: Adam Radly, info@inovatechnology.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Build a man a fire and he is warm for a night, set a man on fire and he is warm for the rest of his life.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.