Business
BSM reports 35% rise in quarterly revenue, increase in gross profit to 59% of revenues
BSM reports 35% rise in quarterly revenue, increase in gross profit to 59% of revenues
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\nBSM reports 35% rise in quarterly revenue, increase in gross profit to 59% of revenues\n\n\n Mar. 1, 2010 (Filing Services Canada) -- BSM Technologies Inc. (GPS - TSX Venture), (\"BSM\")is pleased to announce its financial results for the financial quarter ended December 31, 2009.Highlights for the three months ended December 31, 2009:* 35% increase in revenue to over $3.5 million, in line with management   expectations* Gross profit of 59% of revenue, exceeding management expectations* Working capital of $1,798,080* Tight control of expenses as management began implementing measures to   realize $1.5 million in synergies from the acquisition of DatacomRevenue:  BSM's quarterly revenue increased 35 %, in line with management expectations.  Revenue for the quarter ended December 31, 2009 increased by $911,186 to $3,505,130.                                                                                                                                     Service revenue for the quarter ended December 31, 2009 increased by $841,020 or 72% to $2,004,122.Gross Profit: Gross profit increased from 50% of revenue to 59% of revenue, meeting management expectations.  The gross profit for the quarter ended December 31, 2009 increased by $765,607 to $2,072,243.Integration Update: On September 25, 2009 BSM Technologies acquired all the outstanding shares of Datacom Wireless Corporation.  The integration of the two businesses began and significant progress was made in the quarter ended December 31, 2009.  While this had a limited financial impact in the period ending December 31, 2009, management expects that $1.5 million in...