Highlights:
- Revenue increase of 29%
- Gross profit margin of 98%, up 3 points from 1Q 2109
- Reduction in total costs and expenses of 5%
- Third consecutive quarter of profitability
BOSTON, MA, Sept. 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – ValueSetters, Inc. (OTC:VSTR) preannounced revenue growth of more than 900% for the second quarter of fiscal 2020, while reporting its third consecutive quarter of profitability. The company achieved operating income of $29,208 for the first quarter of 2020 on revenues of $118,732 and reported a gross profit margin of 98%.
“We were pleased to see several new contracts signed in our logistics technology and economic development verticals during the period. Due to the timing of contract signing, the majority of these revenues will be recognized in the following quarter,” said Cecilia Lenk, CEO. “In addition, we recently signed a three-month marketing and advisory services agreement for a fee of $540,000. As a result, we currently anticipate revenues in excess of $700,000 for the second quarter.”
“With an established track record and a strong team in place, we remain optimistic about the future of ValueSetters,” added Ms. Lenk.
ValueSetters will hold an investor conference call to review first quarter results on September 25th, at 12:00 p.m. ET. To access the call, please dial 800-346-7359 or 973-528-0008 and provide the following access code: 535152. A presentation will be available on our website at https://valuesetters.com/events-and-presentations prior to the call.
For additional disclosure regarding operating results, please refer to the Quarterly Report on Form 10-Q for the period ended July 31, 2019, which has been filed with the Securities and Exchange Commission.
About ValueSetters:
Led by a team of professional investors, digital marketing experts, and technology specialists, ValueSetters is a publicly-traded boutique advisory firm with expertise across a broad range of industries. The company has unique experience in helping early stage companies raise capital over the internet and also provides technology consulting services as well as strategic advice to help companies grow and evolve to meet the challenges of today's marketplace. For more information, visit our website at http://valuesetters.com.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.