Business
Legend Power Announces Results for Second Quarter 2017 Record Revenue Quarter on Record Unit Sales and Strong Balance Sheet
(via TheNewswire) Vancouver, Canada / TheNewswire / May 25, 2...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"Legend Power Announces Results for Second Quarter 2017 Record Revenue Quarter on Record Unit Sales and Strong Balance Sheet(via TheNewswire)\n \n \nVancouver, Canada / TheNewswire / May 25, 2017 - Legend Power Systems Inc. (\"Legend\" or \"the Company\")(TSXV: LPS) today reported its second quarter 2017 financial results for the six months ended March 31, 2017. Currency amounts are in Canadian dollars. A complete set of the March 31, 2017 Consolidated Financial Statements and Management's Discussion & Analysis have been filed on SEDAR (www.sedar.com) and are available on Legend's corporate website, http://legendpower.com/investors/financial-statements/. \n\n\n \nFor the three months ended March 31, 2017\n\n\n \n\n\n- Achieved record quarterly revenue of $1,001,382 on sale of 19 units\n\n\n\n- Blended gross profit margin of 51%\n\n\n\n- 11 unique customer transactions\n\n\n\n- Committed Orders* for 13 units as at March 31, 2017\n\n\n\n \n \n\"The second quarter of fiscal 2017 was the Company's best ever,\" said Randy Buchamer, Legend's President & CEO. \"The beginning of Legend's Fiscal year marked a transition from startup entity to growth stage company. We added first class talent to the team, strengthened our balance sheet, improved operational capacity, and our product has proven itself a strong performer, offering appreciable value. We have experienced sizable growth in Committed Orders since March 31, 2017 and anticipate this trend to continue even as our sale-to-revenue recognition cycle, shortens. The benefits of our now established five pillar foundation are positively impacting all aspects of our business and should continue to bear fruit as Legend matures as an organization.\"\n\n \n \nThe Legend Power sales team continued to increase opportunity flow in core target markets during the quarter. Strategic changes in the sales leadership structure, implemented in the previous quarter, eliminated barriers to success and led to a greater degree of team member empowerment. Several proof-of-concept deals are expected to move to full product rollouts as new opportunities and markets continue to materialize. Organic growth is taking place in key market verticals.\n\n \n \nLegend is focused on:\n\n \n \nSales \n\n\n \n\n\n- Developing and maximizing Ontario revenue potential\n\n\n\n\n\n- Added three new sales representat...