Operating Results for the Fourth Quarter of 2021
- Revenue for 4Q2021 was
$1,179,409 compared to$1,084,325 for 3Q2021, a 9% improvement. In addition, 4Q2021 Revenue increased by$690,263 or 141% from$489,146 for 4Q2020. - Gross Profit for 4Q2021 was
$590,749 compared to$488,397 for the 3Q2021, a 21% improvement. In addition, 4Q2021 Gross Profit increased by$303,663 or 106% from$287,086 for 4Q2020. - Net Income before Income Taxes* for 4Q2021 was
$469,034 compared to$422,729 for 3Q2021, an 11% improvement. In addition, 4Q2021 Net Income before Income Taxes* increased by$228,510 or 95% from$240,524 for 3Q2020.
Operating Results for the Year of 2021
- Annual Revenue for 2021 was
$2,768,543 compared to$1,330,068 for the prior year, a 108% improvement. - Annual Gross Profit for 2021 was
$1,351,704 compared to$649,435 for the prior year, a 108% improvement. - Annual Net Income before Income Taxes* for 2021 was
$994,521 , compared to$425,757 for the prior year, a 134% improvement.
“OMID’s financial highlights, which detail record revenues for both the fourth quarter and the year of 2021, convey a narrative of profitable growth organically-fueled by business operations. We inherited an ‘Accumulated Deficit’ as a direct result of our reverse merger with AVOP and I’m proud to say that we’ve converted this term on our balance sheet into ‘Retained Earnings’ - a goal of mine since day one. Having officially pulled this off, our future ambitions begin with an uplist to the OTCQB.” stated
Please use the following link to view a short video with the CEO regarding these financial highlights: https://youtu.be/noK_3JfrB9A
*These figures exclude income tax expenses and all unrealized gains and/or losses on investments.
About
For more information about the company, please visit https://omidholdingsinc.com/.
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Contact:
Phone: +1 908-386-2880
Email: info@omidholdingsinc.com
Source:
2022 GlobeNewswire, Inc., source