BOISE, Idaho, Nov. 15, 2019 (GLOBE NEWSWIRE) -- PCS Edventures!, Inc., (PCSV) a leading provider of K-12 Science, Technology, Engineering and Mathematics (STEM) education programs and drone products, today announced audited results of operations for its second quarter of fiscal year 2020, which ended September 30, 2019.
Revenue was $0.86 million for the quarter, compared to $1.22 million for the same period last year. Net income was ($15,184). Cash flow from operations was $0.63 million and the Company ended the quarter with $326,455 in cash.
Michael Bledsoe, President, commented, “Compared to last fiscal year’s second quarter, this quarter seems disappointing on the surface. However, looking at the last 7 fiscal year second quarters, this quarter ranked second in revenue, so the Company continues operate at a much higher revenue level than it did prior to 2018. I wish our business was not seasonal and quarterly revenue was not so lumpy, but it should be clear to anyone looking at a 12-month rolling timeframe that our Company is growing, profiting, and continuing to innovate in the K-12 education space.”
Todd Hackett, CEO, commented, “Our financial position is as strong as it has been in years. We are meeting all obligations as they become due and we are building inventory in advance of our peak sales season, all of which is being paid from cash flow. This improved financial condition has allowed the Company to make progress on a number of fronts to position it for solid growth and profitability in 2020.”
Company financial information and reports can be found at https://www.otcmarkets.com/.
For more information about PCS Edventures!, Inc., visit our website.
About PCS Edventures!, Inc.
PCS Edventures!, Inc. (PCSV) is a Boise, Idaho company that designs and delivers technology-rich products and services for the K-12 market that develop 21st-century skills. PCS programs emphasize experiential learning in Science, Technology, Engineering, and Math (STEM). https://www.edventures.com/.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934; actual results could differ materially from such statements.
Investor Contact: Michael Bledsoe 1.800.429.3110, firstname.lastname@example.org
Investor Relations Web Site: pcsv.global