Interim Financial Statements and MD&A SEDAR Filings for the three months ending June 30, 2021: Braille Energy Systems Inc. Profile (sedar.com)
Financial Highlights (all amounts in Canadian dollars):
- Revenue increased 51% versus the same year-ago period
- Company achieves first ever quarterly profit of $55,763 versus a loss of $156,189 versus the same year-ago period
- Operating margin increased to 48.2% from 38.7% versus the same year-ago period
OTTAWA, ON / ACCESSWIRE / September 8, 2021 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSXV:BES) ("BESI" or the "Company"), today reported revenue of $990,752 for the three months ending June 30th 2021, an increase of 51% compared to the three months ending June 30th 2020. - Net profit for the quarter was $55,763, or $0.001 per share. This compares to a net loss of $156,189, or $0.003 per share for the three months ending June 30th, 2020.
"BESI continues to deliver improved year over year financial results; achieving our first ever quarterly profit is a significant milestone as we continue to drive productivity thru improved assembly automation. Our Sarasota facility expansion is nearing completion which will allow for greater productivity as we expand into new markets. Additionally, we continue to face significant supply challenges around AGM Batteries shifting the focus to higher margin Lithium Battery sales," said BESI President and CEO Lindsay Weatherdon
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
Braille Energy Systems Inc. Investor Contacts:
Scott Anderson
Investor Relations
(858) 229-7063
[email protected]
Judith Mazvihwa-MacLean
CFO
(613) 581-4040
[email protected]
SOURCE: Braille Energy Systems Inc.