BOISE, Idaho, July 01, 2019 (GLOBE NEWSWIRE) -- PCS Edventures!, Inc., (PCSV) a leading provider of K-12 Science, Technology, Engineering and Mathematics (STEM) education programs and drone products, today announced audited results of operations for its Fiscal Year 2019, which ended March 31, 2019.
Revenue was $4.87 million – a fiscal year record for the Company – and was up 48% from unaudited Fiscal Year 2018 revenue. Net income was $0.85 million and established the Company’s first profitable fiscal year. Cash flow from operations was $0.86 million, and the Company ended the fiscal year with $97,000 in cash. The Company engaged Haynie & Company, CPA’s, to audit its Fiscal Year 2019 financial statements.
Michael Bledsoe, President, commented, “It is extremely gratifying to all of us at PCS to see tangible, positive results from all of our hard work, and it is even better that those results are records for the Company and verified by a third-party audit. We haven’t let up in our drive and we expect the Company’s operating results to continue to reflect these efforts.”
Todd Hackett, CEO, said, “Our profitability has allowed us to pay down debt, making the Company stronger. We believe that continuing down this path is the single best thing we can do to positively impact our stock price. We made net principal payments of approximately $800,000 in Fiscal Year 2019, and have subsequently reduced net Company debt by another $350,000 thus far into Fiscal Year 2020. This debt-reduction endeavor will take time, but the Company’s profitable position means that it now gets stronger with the passage of time.”
Company financial information and reports can be found at https://www.otcmarkets.com/.
For more information about PCS Edventures!, Inc., visit our website.
About PCS Edventures!, Inc.
PCS Edventures!, 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). 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.
Contact
Investor Contact: Michael Bledsoe 1.800.429.3110, mikeb@edventures.com
Investor Relations Web Site: pcsv.global