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Genasys Inc. Reports Fiscal Third Quarter 2021 Financial Results
Achieves Record Fiscal Year Bookings On Track for Record Fiscal Year-End Backlog and Revenue SAN DIEGO, July 28, 2021 (GLOBE NEWSWIRE) -- Genasys Inc.
About this update from Genasys Inc.
[{"type":"text","content":"Achieves Record Fiscal Year Bookings On Track for Record Fiscal Year-End Backlog and Revenue SAN DIEGO, July 28, 2021 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced financial results for the Company's fiscal third quarter ended June 30, 2021. \"Revenue growth and record quarterly bookings in our LRAD hardware and Genasys Emergency Management (GEM) software segments, and the acquisition of fast growing evacuation management and public safety software provider, Zonehaven, highlighted the fiscal third quarter,\" said Richard S. Danforth, Chief Executive Officer of Genasys Inc. \"Investments in sales, marketing, and engineering personnel affected profitability in the quarter, but are important elements for expediting software and enterprise revenue growth. Year-to-date revenues in our major geographic business areas of Asia Pacific, Europe/Middle East/Africa, and the Americas, grew 31%, 16%, and 7%, respectively, from the same period last year. \"Increasing emergency warning, enterprise, and public safety needs are driving demand for our full suite of hardware systems and software solutions,\" Mr. Danforth continued. \"Genasys' unified platform is uniquely positioned to capitalize on rapid growth in the critical communications and mass notification markets. The acquisitions of Amika Mobile and Zonehaven are serving as catalysts to produce significant GEM Enterprise and Integrated Mass Notification System (IMNS) business opportunities. Our combined systems and solutions are expected to increase software sales, grow recurring revenues, and enhance profit margins. \"Record quarterly bookings of $44.3 million drove the Company to achieve record fiscal year bookings three months prior to the close of fiscal 2021,\" added Mr. Danforth. \"Along with the record bookings, backlog of $37.7 million at June 30, 2021 positions the Company for record fiscal year-end backlog and revenue, and continued growth in fiscal 2022.\" Fiscal Third Quarter 2021 Financial Summary Fiscal third quarter revenues were $12.6 million, an increase from $11.9 million in the prior year quarter. Gross profit margin was 53.0%, compared with 54.1% in the third quarter of fiscal 2020. The decrease as a percentage of revenue was attributable to a 61% increase in engineering personnel, pr...