Revenues up (50%), expenses down, profits up. Strong growth to continue. Annualized PE of 3-4. No one cares.
Pioneering Tech earns $191,257 in fiscal Q1 2016
2016-03-01 11:59 ET - News Release
Mr. Kevin Callahan reports
PIONEERING TECHNOLOGY REPORTS RECORD Q1 2016 FINANCIAL RESULTS
Pioneering Technology Corp. has released its financial results for the three months ended Dec. 31, 2015. Pioneering reported revenue of $1.34-million, net income of $191,257 (one cent per share), and adjusted earnings before interest, taxes, depreciation and amortization of $273,700. This marks Pioneering's fifth consecutive quarter of operating profitability.
Kevin Callahan, president and chief executive officer of Pioneering, said: "We are pleased to report record quarterly financial results and continued profitability. Year-over-year revenue for the 12 months ended Dec. 31, 2015, is up over 50 per cent, and we expect this trend to continue based on the strength of growing awareness of the home cooking fire problem, the need for our technology solutions, our new distribution relationships and the changing regulatory environment. We have led the creation of the home cooking fire prevention category and the disruption of the cooking appliance industry and are now just starting to see the beginnings of what we believe will be a very sizeable market opportunity.
Financial Highlights for the First Quarter Ended December 31, 2015 and 2014
First Quarter Ended December 31 2015 ($) 2014 ($)
Revenue 1,336,549 1,193,626
Gross Profit 806,411 692,838
Expenses 546,154 575,330
Net Income 191,257 81,460
EPS 0.01 $0.00
Adjusted EBITDA 273,700 141,891 |
