Key Financial Highlights:
Operating Results for the Three Months Ended
- Net sales for three months ended
May 31, 2022 was$9.6 million , an increase of 30% from$7.4 million in the same period of 2021. - Gross profit was
$2.9 million , an increase of 42% from$2.0 million in the same period of 2021. - Net profit was
$699 thousand , an increase of 27% from$550 thousand in the same period of 2021.
Operating Results for the Nine Months Ended
- Net sales for nine months ended
May 31, 2022 was$27.6 million , an increase of 34% from$20.6 million in the same period of 2021. - Gross profit was
$8.8 million , an increase of 48% from$5.9 million in the same period of 2021. - Net profit was
$1.7 million , an increase of 62% from$1.1 million in the same period of 2021.
“We are encouraged with the manner in which we have emerged from the pandemic with a strong business plan, operating with a focus on efficiency and positioning ourselves to compete in a rapidly changing market. Overall, we believe
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Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the
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andrew@barwicki.com
Source:
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