Business
Innovest Global Announces Date for Second Quarter 2019 Earnings Release, Provides Updates to First Quarter Results
Innovest Global Announces Date for Second Quarter 2019 Earnings Release, Provides Updates to First Quarter Results.
About this update from Innovest Global Inc
[{"type":"text","content":"\nInnovest Global Inc. (OTC Markets: IVST), a diversified industrials company which recently announced its plan to spin-off its biotechnology holdings to focus on non-scientific revenue opportunities, intends to release its second quarter results at 4PM ET on Monday, August 5th.\n\n\nYesterday, the company posted revised first quarter results. The primary revision was an increase in net sales to $12.8 million from previously reported $11.7 million. The most notable effect of the revisions is an increase in gross profit to $1.0 million, from a previous reported gross loss of ($293,000). Obtaining the specific information that resulted in these changes had been delayed due to an accounting system transition of an entity acquired at the end of 2018.\n\n\nThe revised quarterly report can be found by clicking here.\n\n\nNotable information from the financial report:\n\n\n\nFirst quarter Net Sales of $12.8 million are highest ever with 1,716% growth over first quarter prior year and 190% over previous quarter.\n\n\nNet Income $2.0 million after gain on non-operating income; first positive Net Income in Company history\n\n\nOperating Loss: ($329,000)\n\n\nBasic EPS: $0.014\n\n\nTotal Assets $17.6 million\n\n\nCurrent Assets $11.1 million\n\n\nNo long-term debt, no convertible debt\n\n\n\nQuestions about the financial reports can be directed to Investor Relations at [email protected] or 440.644.1027. Please follow us across social media, a frequent medium for important updates and news @innovestglobal. Look for much more information to come soon.\n\n\nAbout Innovest Global, Inc.\n\n\nInnovest Global, Inc. (OTC Markets: IVST) has operations in industrials (commercial and industrial products and services, energy, construction, and building materials ) and investments in biotechnology. Our primary growth strategy is to acquire existing companies in a select few industries and attract new customers in cost effective ways.\n\n\nFor more information, please visit: http://www.innovestglobal.com, and follow us on Twitter @innovestglobal.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are fo...