Route1 (ROI-V) provides secure access technologies for the mobile workspace that protects businesses and government agencies. The company’s customers include the Department of Energy and the Government of Canada the U.S. Department of Defense, and the Department of Homeland Security.
On Tuesday, ROI reported its financial results for the quarter ended March 31, 2015. The first quarter of 2015 was the fourth successive one in which ROI realized further growth in revenue from subscribers, which is recurring revenue.
Total revenue for the March quarter was $1.54 million, compared to $1.76 million reported for the same period in the previous year. The decline in total revenue was mainly due to a sharp drop in devices revenue, which was partially offset by services and other revenue.
Gross profit for the first quarter was $1.27 million, compared to $1.41 million reported for the same period in the previous year. Gross margin was 83%, up from 80% reported in the first quarter of 2014. Net income for the first quarter was $0.6 million, compared to $0.4 million reported for the same period in the previous year.
While the numbers look to be stalling, margins continue to be really healthy and with the growing need for more mobile security and the trend towards mobile workplaces, the trend looks to still be in the Company’s favour.
By: Dylan Sikes - AllPennyStocks.com News |
