Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Announces Strong Second Quarter of 2021 Results
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Announces Strong Second Quarter of 2021 Results.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Aug. 13, 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 second quarter of 2021 results which show that revenue is up, profit is up and the company is achieving its growth milestones.   Following its most recent filings, ILUS International (ILUS) reports that along with significant milestones achieved, the company achieved revenue of $ 2.86 million in the second quarter of 2021. This represents a 462% increase on the first quarter revenue of $ 509k. In addition to increased revenue, ILUS reports that its second quarter gross profit is up 375% to $ 992k compared to the first quarter gross profit of $ 209k.  In addition to its increased revenue and profit, ILUS reports that it has strengthened its balance sheet with assets increasing to just under $24.5 million and cash in the bank has also increased. The management team’s modus operandi has been to continually prioritise profitable growth and cash liquidity in order to allow it to execute the deals on its radar. With a number of new acquisitions in the pipeline, including two Letters of Intent which have been signed, ILUS is in a strong position to complete its targeted deals.  ILUS acquired BCD Fire, a fixed fire systems integrator headquartered out of Dubai, United Arab Emirates on the 13th of April 2021. This acquisition means that in addition to the first quarter acquisitions of FireBug and The Vehicle Converters, ILUS has already acquired three companies in 2021. ILUS remains committed to acquiring and growing companies in the Public Safety sector, specifically those companies which have or are developing innovative technology which protects and saves property and lives. ILUS is currently in discussions with five further acquisition targets, four of which are in the United States and one which is in Europe. New strategic acquisitions will complement existing technology within the ILUS group of companies and add new disruptive technology to the portfolio. They will also provide additional routes to market, existing revenue, and increased local market knowledge.  In addition to the acquisition of BCD Fire early in the second quarter and the signing of two Letters of I...