Business
LiveToBeHappy, Inc. Reports Results for Third Fiscal Quarter 2021
LiveToBeHappy, Inc. Reports Results for Third Fiscal Quarter 2021.
About this update from Cavu Resources Inc.
[{"type":"text","content":"\n Strong sales momentum with year-to-date revenue growth of 76% Continued momentum as Company executes its business strategy with more acquisitions expected to close by the end of 2021 CHARLOTTE, N.C., Nov. 16, 2021 (GLOBE NEWSWIRE) -- LiveToBeHappy, Inc. (OTCM: CAVR, soon to be LTBH) (“LiveToBeHappy” or the “Company”), a land developer and community home builder in the Southern U.S. today reported financial results for the third fiscal quarter ended September 30, 2021. Third Quarter & Recent Highlights: Total quarterly revenue decreased to $429 thousand, down from $971 thousand for the third quarter of 2020.Total nine-month 2021 revenue increased to $4.4 million, up 76%, compared to $2.5 million for the first nine months of 2020.Total quarterly operating income loss was ($594) thousand, compared to operating income of $813 thousand in the third quarter of 2020.Total nine-month 2021 operating loss of ($616) thousand, compared to operating income of $1.8 million for the first nine months of 2020.Total quarterly net loss of ($596) thousand, compared to net income of $812 thousand for the third quarter of 2020.Total nine-month 2021 net loss of ($622) thousand, compared to net income of $1.8 million for the first nine months of 2020.Added PostBidShip and Trudant Financial Executive Services to its portfolio of companies, subsequent to the end of the third quarter, with significant progress made towards completing the remaining five companies under letter of intent (LOI) before the end of 2021. Kevin Vincent Cox, Chief Executive Officer, commented, “I am pleased with our performance thus far with year-to-date revenue growth of 76% compared to the same period last year. The robust top-line growth we achieved was due to the recovery in residential real estate coming out of the pandemic in 2020. The acquisition of PostBidShip (soon to be HARDHATFREIGHT.com), which we announced subsequent to the end of the third quarter, will provide us the unique opportunity to double the number of shippers, increase our capacity to serve third-party construction companies, and further streamline the real estate development process. We are excited about the Company’s investments in growth that are already starting to pay off.” Cox added, “Our sales for the third quarter were driven by continued demand...