May 30, 2016
Desktop 3D printer manufacturer Tinkerine Studios has today released its financial results for the fiscal period ending March 31, 2016.
Highlights Q1 2016
- Revenue of $171,689 for Q1 2016, a 58% increase from the comparable period ending March 31, 2015.
- Gross Margin of $64,572, a 177% increase from the comparable Q1 2015 period.
- A 32% reduction in expenses in Q1 2016 versus the previous years’ comparable period.
- Net Loss of $311,223 for the period ending March 31, 2016 versus a net loss of $475,027 in the comparable Q1 2015 period.
- Appointed Mr. Justin Sy as interim Chief Financial Officer.
- Closing of private placement financing in the amount of $315,000, subscribed for by insiders and founders of the Company.
- Increased inventory of raw materials and finished products to $608,351 in anticipation of cyclical sales to educational institutions in Q2 and Q3.
Financial Highlights
Q1 2016 | Q1 2015 | |||||||
Revenue | $ | 171,689 | $ | 108,542 | ||||
Cost of Goods Sold | $ | 107,117 | $ | 85,191 | ||||
Gross Profit | $ | 65,572 | $ | 23,351 | ||||
Expenses | $ | 375,796 | $ | 551,975 | ||||
Net Income (Loss) | $ | (311,223 | ) | $ | (475,027 | ) |
Posted in 3D Printer Company
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