Tesoro Enterprises, Inc posts annual financial report
Apr 04, 2015
OTC Disclosure & News Service
Wilton, CT -
Tesoro Enterprises, Inc. (TSNP): On March 31, 2015, the Company posted its Annual Report of Financial Performance for the year ended December 31, 2014 on the OTC Markets exchange.
Revenue for the twelve month period ended December 31, 2015 was $390,779 compared to $319,488 for the twelve month period ended December 31, 2013, an increase of $71,291 or twenty-two percent. Net income (loss) for the twelve month period ending December 31, 2014 was Net Income of $143 compared to a net loss of ($57,725) for the twelve month period ended December 31, 2013, an improvement of $57,868.
Company CEO, Henry Boucher, commented that while the net income was marginal, it was significant, as it is the first year the company has closed a year with a net profit. The combination of cost control that lowered the breakeven point and revenue growth resulted in the turn to profitability. He also cautioned that the harsh winter of 2015 in the north east, slowed the building and remodeling activity in the first Quarter of 2015.
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