BOISE, Idaho, Aug. 10, 2023 (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 first quarter of Fiscal Year 2024 which ended on June 30, 2023.
Revenue was $2.61 million, which was up 87% from the $1.39 million in revenue generated in the same period last year. Net income was $0.86 million, compared to net income of $0.26 million for the same period last year. The Company ended the quarter with $1.04 million in cash.
Michael Bledsoe, President, commented, "In terms of revenue, this was the best quarter the Company has ever had. Our initiative to go after larger customers is having broad-based success. During this quarter, we had 12 customers with orders in excess of $50,000, 3 of which were resellers. In the same quarter last year, we had 7 customers exceeding $50,000, 4 of which were resellers."
Todd Hackett, CEO, stated, "With the Company performing as well as it is operationally, we are excited to implement the next phase of our longer-term plan. Within the next 30 days, we intend to file Form 10 with the SEC to become an SEC Reporting Company again after five years of being an Alternative Reporting Company. Upon achieving this status, we will look to expand the Board of Directors and eventually uplist to a more distinguished exchange. While there is a lot of work in front of us to get this accomplished, we are confident in our ability to do so and look forward to achieving these milestones."
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://www.edventures.com/.
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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, mikeb@edventures.com
Investor Relations Web Site: https://investors.edventures.com/
