Paragon Technologies Inc Stock Price, News & Analysis

Paragon Technologies (OTC PINK:PGNT) reported its financial results for the three and nine months ending September 30, 2021. The company achieved net sales of $36,771,000 for Q3 2021, compared to $28,873,000 in Q3 2020, marking a significant increase. For the nine-month period, net sales rose to $100,958,000 from $76,719,000 in the previous year. The operating income for Q3 was $2,109,000, up from $1,203,000. Overall, the company posted a net income of $892,000 for Q3 2021, compared to $718,000 in Q3 2020.

Paragon Technologies (OTC PINK:PGNT) reported significant growth for the three and six months ending June 30, 2021. Net sales surged to $32,823,000 for Q2 2021 from $18,252,000 in Q2 2020, marking a 80% increase. Year-to-date sales reached $64,187,000, up 34% from $47,846,000 a year prior. Operating income also improved to $1,462,000 for Q2 2021, compared with $895,000 in 2020. Despite the gains, the company noted potential risks from the ongoing impact of COVID-19 on operations.

Paragon Technologies (OTC PINK:PGNT) announces the appointment of Leticia 'Tish' Cardonick as its new Chief Financial Officer, effective August 31, 2021. Cardonick brings over 20 years of experience in investment management and has held key positions at Morgan Stanley and Goldman Sachs. She succeeds Deb Mertz, who is retiring after a seven-year tenure. CEO Hesham Gad expressed confidence in Cardonick's abilities to drive the company's financial strategies moving forward. Paragon Technologies engages in diverse business activities, including material handling and real estate.

Paragon Technologies (OTC Pink:PGNT) reported its financial results for Q1 2021. Net sales increased to $31.36 million from $29.59 million in Q1 2020, reflecting growth despite ongoing challenges. However, the company experienced a decline in operating income, reporting $698,000 compared to $943,000 in the previous year. The net income attributable to Paragon decreased to a loss of $12,000 from a profit of $282,000. The impact of COVID-19 and related uncertainties are noted as ongoing risks. The comprehensive quarterly report is available at www.pgntgroup.com.

Paragon Technologies, Inc. (OTC PINK:PGNT) has made its 2021 Annual Letter to Shareholders available online. Shareholders are encouraged to read the letter, which highlights the company's diverse business activities, including material handling, distribution, real estate, and investments. The letter can be accessed through their website at this link.

For further details and previous press releases, visit www.pgntgroup.com.

Paragon Technologies, Inc. (OTC PINK:PGNT) announced its financial results for the year ended December 31, 2020, reporting net sales of $107,998,000, down from $112,893,000 in 2019. The company achieved operating income of $5,424,000, a substantial increase from $3,090,000 the previous year. Net income attributable to the company was $3,601,000, up from $992,000 in 2019. The company also acknowledged potential negative impacts on operations due to the COVID-19 pandemic. Further analysis will be released in the upcoming annual letter to shareholders.

Paragon Technologies, Inc. (OTC Pink: PGNT) reported its financial results for the three and nine months ending September 30, 2020. Net sales decreased to $28,873,000 for Q3 2020 from $30,842,000 in Q3 2019. Net income attributable to Paragon rose to $718,000, compared to $295,000 in the prior year. While operating income increased to $1,203,000 in Q3 2020, the company highlighted a significant decrease in automation backlog entering 2021.

Despite some positives, the overall outlook remains cautious due to declining sales and backlog challenges.

Paragon Technologies, Inc. (OTC PINK:PGNT) reported its financial results for the three and six months ended June 30, 2020. For Q2 2020, net sales were $18,252,000, down from $27,252,000 in Q2 2019. Operating income increased to $895,000 from $664,000. However, total income before taxes rose to $974,000 from $555,000. The company recorded a net income of $564,000, up from $236,000 in the same quarter last year. Additionally, SI Systems received a $150,000 EIDL loan to support working capital. Paragon continues to navigate challenges posed by the pandemic.