Dynacert (DYA: CA) Announces Financial Results for the First Quarter Of Fiscal 2017
May 25, 2017
•3 min read
DynaCERT Inc. (DYA: CA) has released its quarterly financial statements and management discussion and analysis for the three months ended March 31, 2017. This press release should be read in conjunction with dynaCERT’s financial statements and MD & A for the quarter ended March 31, 2017. These documents can be found on the company’s website or on SEDAR.
Q1 Highlights
Revenue of $1,380,350 on the delivery of 215 HG1 units
Gross profit of $653,502
Gross margin of 47%
Net operating income before stock based compensation of $199,188
Net income of $482,175
Cash balance at the end of Q1 of $1,093,944
Robert Maier, COO of dynaCERT, states, “We are executing well and gaining traction as we focus on the foundation of strong distributor relationships. We are expanding into other markets for our suite of HydraGENTM products.” “I am pleased with our first quarter results as we commenced commercial sales,” said Jim Payne, President and CEO of dynaCERT. “We are strengthening our management team and support for sales and product installation. The growth potential for sales is both exciting and challenging as we transform from an R&D company into a sales and manufacturing organization.”
About dynaCERT Inc.
dynaCERT Inc. manufactures, distributes, and installs Carbon Emission Reduction Technology for use with internal combustion engines. Our patent-pending technology creates hydrogen and oxygen on-demand through electrolysis and supplies these additives through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is currently in use with on-road applications.
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