Financial Highlights for N-VIRO International First Quarter 2010
May 26, 2010 Leave a comment
Revenues were $1.37 million, representing a 20% increase over fourth quarter 2009 revenues of $1.15 million and a 2% increase when compared to first quarter 2009 revenues of $1.35 million.
•Gross profit for the reporting period was $374,000, representing an 81% increase over fourth quarter 2009 reported as $207,000 and a 4% decrease when compared to $391,000 the first quarter 2009.
•Gross profit margins for period were 27%, an improvement of 9% over fourth quarter 2009 and a decrease of 2% for the comparable first quarter 2009.
•Operating expenses reported as $1,521,000, an increase of $750,000 over fourth quarter 2009 and $1,164,000 as compared to the first quarter of 2009.
•Net loss increased to $1,143,000, or $0.22 per share for the quarter compared with a net loss of $544,000, or $0.11 per share for the fourth quarter ended 2009 and a net income of $20,000, or $0.00 per share for the same period one year ago.
•Non-GAAP adjusted cash earnings were $7,000 for the quarter compared with a loss of $59,000 for the fourth quarter of 2009, but a decrease from the first quarter of 2009 of $55,000.