PRESS RELEASE: PCS EDVENTURES! REPORTS UNAUDITED RESULTS FOR THE FIRST QUARTER OF FISCAL YEAR 2019
Strong Demand and Execution Led to a Record Quarter for Revenue and Profitability
Boise, Idaho, August 15, 2018 — PCS Edventures!.com, 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 2019 which ended in June 30, 2018.
Revenue was $1.81 million, a quarterly record for the Company, which was up 184% from the same period last year. Net income was $0.75 million, also a quarterly record for the Company. Cash flow from operations was $0.90 million and the Company ended the quarter with $284,000 in cash.
“PCS Edventures delivered record results for the first fiscal quarter, driven by robust demand for the Company’s education products, primarily our drone-related education solutions and enrichment camps,” said Mike Bledsoe, Vice President and Treasurer. “Our seasonal peak this year was higher than ever and lasted much longer than prior peak seasons, and our team executed smartly.”
Todd Hackett, CEO, commented, “We have seen a significant pick up in sales volume this calendar year compared to last and we expect this trend to continue. Our products are being well-received not only for their quality and value, but also because we have significantly increased marketplace awareness of the Company through more effective marketing over a broader reach which includes our expanding reseller network.”
For more information about PCS Edventures, visit our website.
About PCS Edventures!
PCS Edventures!.com, 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, Arts and Math (STEAM) and have been deployed at over 7,000 sites in all 50 United States and 17 foreign countries. https://www.edventures.com.
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.
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