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undefined (OTC) is an innovative business solutions provider focused on technology integration and operational efficiency. This page serves as the definitive source for all official company announcements and market-related developments.
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Energy Services of America (Nasdaq: ESOA) reported revenue of $71.1 million, a 33% increase, and a gross profit of $6.2 million, a 60% increase for the fiscal second quarter ended March 31, 2024. The net loss improved by $765,000 to $1.1 million, or ($0.07) per share, and adjusted EBITDA improved by $1 million to $923,000. The backlog stood at $222.8 million, showing growth compared to the prior quarter.
The Company's positive financial results were driven by increased work in Gas & Petroleum Transmission and Electrical, Mechanical, and General business lines. Despite higher selling and administrative expenses due to additional personnel, the Company remains optimistic about future growth opportunities given the strong industry outlook and robust backlog.
Adjusted EBITDA for the quarter was $922,930, reflecting the Company's cash-generating activity. Energy Services of America remains committed to safety, quality, and production, serving customers in various industries with over 1,000 employees.
Trucept Inc. (OTC Pink: TREP) reported robust financial results for the year ending December 31, 2022, demonstrating continued profitability. The company achieved a 14.3% increase in revenue compared to the previous year, accompanied by an 11.4% rise in total stockholders' equity. CEO Norman Tipton noted the positive performance amid economic challenges and highlighted the appointment of a new auditing firm to facilitate an uplist to OTCQB. Trucept provides a range of professional services, showcasing resilience and consistent growth in its operations.
Trucept Inc. (OTC Pink: TREP) has announced its financial results for the full year 2022, showcasing a 14.3% increase in revenue compared to the previous year. This marks another consecutive year of profitability for the company. Total stockholders' equity also saw an increase of 11.4%. CEO Norman Tipton expressed satisfaction with the company's performance despite economic challenges and highlighted efforts to advance financial audits for a potential up-listing on the OTCQB. Trucept continues to expand its professional services, including marketing and payroll, to assist businesses in navigating growth.
