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SAN DIEGO, Nov. 17, 2020 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) reported its financial results for the first quarter ended September 30, 2020. With revenues of $759,393, this represents a year-over-year increase of 4,285% compared to $17,317 for the same period three months ended September 30th, 2019. The Company sustained results for the quarter continuing its momentum after Dalrada's strongest quarter ending on June 30th, 2020 with revenues of $777,347.
Dalrada Reports Q1 Financial Results With 4,285% YoY Increase
Brian Bonar, CEO of Dalrada, states, "We are pleased with our performance for the quarter. Dalrada continued to grow our global footprint, despite the pandemic and the slow summer months. The progression of our business segments with diverse products and services has helped us weather the storm. Dalrada continues to persevere with a consistent focus on long-term growth priorities, and the need to increase revenues with higher returns."
During the first quarter, Dalrada produced a slight reduction in operating expenses due to higher margin sales, establishment of reliable supply chains, and improvements in manufacturing and distribution.
Bonar continues, "We believe in Dalrada's business model and what we are doing. As we continue to expand and share our vision and implementation plans, it is well-received every time. Dalrada is designed to make a positive impact on lives around the world. From reducing global-warming potential with our Likido green energy technology; implementing software development and technology solutions that allow a rapidly growing virtual world to capture secure, on-demand sales revenue; working to reduce cervical cancer mortality rates in low-to-mid income countries with VIA Kits and clinical studies; providing safe, alternative sanitizing products; and providing low-cost, high-quality bespoke precision parts to OEMs, Dalrada is making great strides."
The Company also removed its shell status on the OTC Market. Dalrada is preparing to up-list to the market tier OTCQB.
About Dalrada (DFCO)
Dalrada Financial Corp. (OTC Pink: DFCO) solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.
About Dalrada Health
A subsidiary of Dalrada Financial Corp., Dalrada Health is focused on solving health problems around the world. The company develops products and services that address the unmet needs of consumers due to accessibility, affordability, or availability. With operations in the U.S., Malaysia, and India, Dalrada Health can reach underserved markets through strong partnerships and the development of efficient supply chains. Dalrada Health is committed to solving universal health problems through improved methodologies resulting in products and services that benefit the global marketplace. For details, visit www.dalradahealth.com For information on GlanHealth™ visit www.glanhealth.com
About Dalrada Precision
A subsidiary of Dalrada Financial Corp., Dalrada Precision has been focused on solution-based engineering and the customer experience from day one. By continually delivering on its promises, the Company has created trust while building mutually successful long-term relationships.
Dalrada Precision is a team of highly trained and committed individuals. The company takes pride in solving the unique challenges of its customers and constantly improves and enhances its machining and manufacturing capabilities, ultimately becoming a key strategic partner of many businesses. For more information, please visit www.dalradaprecision.com.
About Prakat Solutions
Prakat Solutions Inc. is a technology solutions company specializing in test engineering, accessibility engineering, product engineering, and application modernization. The company partners with clients to create transparent, value-based relationships by leveraging the extensive experience of its team and by providing innovative solutions in a wide range of technology domains that ultimately enable customers to successfully attain their business goals. The Prakat work culture is based on the belief that, "We believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune 1000 customers. With its main engineering center in Bangalore, India, the Company also has offices in Dallas, Texas, Denver, Colorado, and San Diego, California. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
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