Pervasip Announces First Quarter Financials
PERVASIP CORP NEW (PVSP)
NASDAQ:AMEX Investor Relations:
investorshub.advfn.com/pervasip-corp-pvsp-13525
Company Research
Source: GlobeNewswire
SEATTLE, WASHINGTON, April 23, 2024 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, today announced its 2024 first quarter financial results. Key Highlights Gross Profit for the quarter ending February 29, 2024 totaled $831,079 on $3,347,086 in revenues, compared to gross profits of $716,213 during the same period in 2023.Gross Margins increased from 20% to 25%, a 25% increase. The improved gross margin reflects increases in production yields and gains in production efficiencies.Revenues of $3.34 million decreased slightly from 2023 first quarter revenues of $3.66 million, achieved in a market that continues to battle over supply and price compression.Operating Loss for the quarter increased to $618,623, deeper than the $501,283 loss reported in the first quarter of 2023. This increase is attributable to one-time expenses related to the restructuring of operational
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