Cleartronic, Inc. Announces Third Quarter 2022 Financial Results
BOCA RATON, Fla., Aug. 16, 2022 (GLOBE NEWSWIRE) -- Cleartronic, Inc. (OTCPINK: CLRI) released its 2022 third quarter financial statements for the nine months ended June 30, 2022.
Cleartronic, Inc. (the “Company”) reports its tenth consecutive quarter of profitability, highlighted by the third quarter’s performance for the nine months ended June 30, 2022, where the Company posted an increase of 25% in gross profit and an increase in net income of 94% as compared to the same period for June 2021. For the three months ended June 30, 2022, we reported an increase of 28% in gross profit and an increase of 156% in net income as compared to the same period in 2021.
Marc Moore, CEO of Cleartronic stated, “We are very pleased to again report increasing revenue, profitability, and addition of new clients, both private and government agencies. Our client retention rate is over 95% and our growth has been enhanced by clients continue to expand their use of our ReadyOp platform with new applications and using ReadyOp in new areas of their operations.
During this latest quarter we released our new website, www.readyop.com, with more information about the ReadyOp platform and how it benefits clients. This will enhance our marketing efforts and enable us to present the many features and uses of ReadyOp. We also held our first ReadyOp Users Conference at the NASA Johnson Space Center in Houston, Texas. The successful three-day event was attended by clients from all over the country. Our plans are to begin hosting more of these conferences for training and the introduction of new features and capabilities in the ReadyOp platform.”
The full 10-Q report for the nine months ended June 30, 2022, can be viewed at https://ir.stockpr.com/cleartronic/all-sec-filings#document-15119-0001091818-22-000108.
About Cleartronic, Inc.:
Cleartronic, Inc. (OTCPINK: CLRI), a diversified holding company has been in business since 1999. The Company creates and acquires operating subsidiaries with the intended goals of manufacturing and selling products, services, and integrated systems to governmental agencies, private, not-for-profit businesses, and to the general public. In addition to its ongoing projects, Cleartronic continues its endeavors in research and development of new and expanded projects to support its overall service components, while operating and concentrating on its main operating subsidiary ReadyOp Communications, Inc. www.cleartronic.com & www.readyop.com.
Safe Harbor Statement
This new release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results), and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties so that actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements because of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact and Inquiries for Investor Relations:
Larry Reid, Chief Financial Officer
(561) 939-3399 Ext. 143
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/83d56a17-1a87-4d79-b6a9-993f022871f6