Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Announces Its Strongest Quarterly Performance to Date
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Announces Its Strongest Quarterly Performance to Date.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Nov. 17, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) remains focused on its M&A strategy of acquiring and growing global technology companies. The company has released its third quarter of 2021 results which show that revenue is up, assets are up and the company has achieved several significant growth milestones. Following its most recent filings which were submitted on 15 November 2021, ILUS reports that the company achieved third quarter revenue of $3,135 million. This represents a 10% increase over the second quarter revenue of $2,86 million and total revenue for the first 3 quarters was $6,507 million. In addition to increased revenue, ILUS reports that its third quarter gross profit was $881,196 and gross profit for the first 3 quarters was $1,947 million. Due to global shipping delays, ILUS was not able to invoice additional purchase orders received during Q3 which amounted to over half a million dollars. Revenue from these purchase orders will be automatically attributed to the fourth quarter revenue for the company.  In addition to its increased revenue, ILUS reports that it has strengthened its balance sheet with assets increasing to $ 26,9 million. The company remains in a strong position to execute the deals on its radar, with the capability to increase deal size over the coming weeks and months. ILUS confirmed that as part of the first phase of its Share Structure reorganization, the company reduced its outstanding shares by 78 million to 1,143,530,699. Additional 3rd quarter highlights for ILUS included the completion of precontract agreements for the acquisition of the company’s first three US acquisitions. Although these are the first of many acquisitions in the United States for ILUS, they represent the establishment of ILUS’ manufacturing and distribution in the US market. The company announced its US roadmap during Q2, which included the acquisition of US manufacturing capability, routes to market and local market knowledge, and during Q3, the company successfully delivered on the first phase of its stated US roadmap. Upon completion of the transactions for the first 3 US acquisitions, ILUS will be adding existing annual revenue of more than $ 12 million to its books.  ILUS made a number of significant new hires during...