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Cyberlux Corporation (OTC:CYBL) Releases Amended First Quarter Financial and Operational Results Confirming the Company Delivered $6.25M in Revenue and $1.24M in Net Income for Quarter Ended March 31, 2022
Cyberlux Corporation (OTC:CYBL) Releases Amended First Quarter Financial and Operational Results Confirming the Company Delivered $6.25M in Revenue and $1.24M in Net Income for Quarter Ended March 31, 2022.
About this update from Cyberlux Corp.
[{"type":"text","content":"In compliance with OTC Markets, the Company filed the minor updates requested and confirmed it delivered $6.25M in Revenue and posted $1.24M in Net Income for the period ended March 31, 2022, a 543% increase year-over-year in Net Income growth.RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / June 15, 2022 / Today, Cyberlux Corporation, (OTC:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries with breakthrough Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) solutions, advanced unmanned aircraft solutions (UAS), cutting-edge lighting solutions, and renewable energy and infrastructure technology solutions, announced that the Company has filed its amended Quarterly Report for the period ended March 31, 2022, including the minor corrections and additions required in compliance with the OTC Markets request, and has confirmed the Company achieved a record $6,247,453 in Revenue and a record $1,243,246 in Net Income for the First Quarter of 2022. The Company also grew its Balance Sheet Assets to $10,524,329 with its successful organic growth and platform acquisition strategy for the period ended March 31, 2022.Cyberlux grew its revenue by $6,247,453, compared to $0 revenue in first quarter 2021, and achieved a 543 percent increase in year-over-year net income growth, $1,243,246 versus $193,440. Additionally, Cyberlux revenue grew 13.8 percent quarter-over-quarter from fourth quarter 2021 to first quarter 2022, where first quarter is typically the lowest performing quarter for the entire year.Cyberlux Management expects the quarterly revenue growth to continue during 2022 and expects a record second quarter 2022, as May 2022 results are finalized this week. Going forward, the Company's acquisition and organic growth strategy continues to expand across its four business units: Digital Platform Solutions, Unmanned Aircraft Solutions, Infrastructure Technology Solutions and Advanced Lighting Solutions. With the 2022 revenue outlook of $44.8 million, the Company is expected to generate a substantial positive net income from Operations for the year as well.Financial Highlights for Three and Twelve Months Ended March 31, 2022:Revenues from Operations for the three months of $6,247,453, up 13.8% from the $5,389,560 in revenue for the previous quarter ended December 31, 2021...