BOISE, Idaho, Nov. 15, 2021 (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 unaudited results of operations for its second quarter of Fiscal Year 2022, which ended on September 30, 2021.
Revenue was $0.99 million, which was 154% higher than the $0.39 million in revenue for the same period last year. Net income for the second quarter was $0.09 million compared to ($0.21 million) for the second quarter of Fiscal Year 2021. The Company ended the quarter with $0.46 million in cash.
Michael Bledsoe, President, commented, “We had another strong quarter, with revenue rebounding significantly from last year’s comparable quarter. Operationally, we are preparing for record sales levels and a surge of order activity at the start of calendar year 2022, albeit within a challenging supply-chain environment. Financially, we paid off a $100,000 note during the quarter, reducing our net debt correspondingly. We anticipate reducing net debt significantly next year. Strategically, we are enhancing the translation of operational success into shareholder returns by preparing to file Form 10 with the Securities and Exchange Commission to become an SEC reporting company once again. This filing is imminent and, once effective, is expected to elevate our visibility within the investment community. I believe that calendar year 2022 will be a momentous year for the Company and our shareholders.”
Todd Hackett, CEO, commented, “We are executing our plan to enhance shareholder returns. The company is financially healthy and expecting robust growth over the next year. We expect to become an SEC reporting company sometime during the first calendar quarter of 2022, and we look forward to reinstituting our AGM next year.”
For more information about PCS Edventures!, Inc., visit our website.
Company financial information and reports can be found at https://www.otcmarkets.com/.
About PCS Edventures!, Inc.
PCS Edventures!, Inc. (OTCPK: 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://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.
Contact
Investor Contact: Michael Bledsoe 1.800.429.3110, investors@edventures.com