Mr.
Murray Payne reports
DYNACERT ANNOUNCES FINANCIAL RESULTS FOR THE FIRST QUARTER OF FISCAL 2017
DynaCERT Inc. has released its quarterly financial statements and management discussion and analysis for the three months ended March 31, 2017. This press release should be read in conjunction with DynaCERT's financial statements and management discussion and analysis for the quarter ended March 31, 2017. These documents can be found on the company's website or on SEDAR.
First quarter highlights
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Revenue of $1,380,350 on the delivery of 215 HG1 units;
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Gross profit of $653,502;
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Gross margin of 47 per cent;
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Net operating income before stock-based compensation of $199,188;
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Net income of $482,175;
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Cash balance at the end of the first quarter of $1,093,944.
Robert Maier, chief operating officer of DynaCERT, stated: "We are executing well and gaining traction as we focus on the foundation of strong distributor relationships. We are expanding into other markets for our suite of HydraGEN products."
"I am pleased with our first quarter results as we commenced commercial sales," said Jim Payne, president and chief executive officer of DynaCERT. "We are strengthening our management team and support for sales and product installation. The growth potential for sales is both exciting and challenging as we transform from an R&D [research and development] company into a sales and manufacturing organization."
About
DynaCERT
Inc.
DynaCERT manufactures, distributes and installs carbon emission reduction technology for use with internal combustion engines. The company's patent-pending technology creates hydrogen and oxygen on demand through electrolysis and supplies these additives through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. The company's technology is currently in use with on-road applications.
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