Business
Gatekeeper Reports Record Revenue of $2.7M for Fiscal Q2 2019
Abbotsford, British Columbia--(Newsfile Corp. - April 29, 2019) - Gatekeeper Systems Inc. ...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Reports Record Revenue of $2.7M for Fiscal Q2 2019Abbotsford, British Columbia--(Newsfile Corp. - April 29, 2019) - Gatekeeper Systems Inc. (TSXV: GSI) ('Gatekeeper' or the 'Company'), a leading provider of video surveillance systems developed to protect people while in transit, today reported its financial results for the three and six months ended February 28, 2019. Financial Highlights for Second QuarterRevenue for the three months ended February 28, 2019 was $2,698,819, an increase of 118% when compared to $1,237,320 in the same period in the previous year, and the highest second-quarter revenue in the Company's history;Revenue for the six-month period was $4,538,297, an increase of 70% when compared to $2,667,219 in the same period in the previous year, and the highest first-half revenue in the Company's history;Gross profit during the three and six months ended February 28, 2019 was $1,142,129 and $2,053,415, respectively, which compares to $635,693 and $1,403,612, respectively in the same prior year comparable periods;Net loss for the quarter was $0.01 per share which compares to a net loss of $0.01 per share for the same period in the previous year;As at February 28, 2019 the Company had working capital of $5,179,418, no long-term debt, and approximately 87.6 million shares outstanding. Operational Highlights for Second QuarterExpanded Gatekeeper USA operations with new fleet vehicles to support the growing transit business in the Eastern USA and relating to South East Pennsylvania Transportation Authority (\"SEPTA\")Supplied and installed Crash Worthy Memory Modules integrated with video systems for SEPTA trains; Received SEPTA extension contract for service and maintenance of video systems;Expanded transit business with new contract for Illinois Jackson County Mass Transit District;Received first order for the Company's new Community Observation Protection System (COPS™);Received order to supply school bus video systems to Sunrise Bus Company, a leading Student Transportation Provider in the Northeast and Midwest USA; Received order for integrated school bus video and wireless system from Cook Illinois Corporation which operates more than 2,000 buses and ranks as the sixth largest bus contractor in the US;Commenced shipments of the Company's new SP25 10 Mega Pixel stop arm camera system for capturing ...