/NOT FOR DISTRIBUTION IN THE
Active focus on blue sky reaches an all-time high for all major product categories
Highlights:
- Revenue of
$5,421,843 up from$5,177,709 in prior quarter, - Gross margin of 32% in Q2 versus 27% in Q1, and 13% in Q4 (prior year),
- Increase in gross R&D spending to
$216,719 , and, - Net income of
$81,315 .
"Utilizing the cash flow from our improved manufacturing operations continues to allow us to invest heavily in a pioneering portfolio of blue sky products that de-carbonize concrete production and restore health to our soil," said
"October's quarter results reflect our focus on improving cash flow and profitability of legacy operations to enable us to develop innovative new products," said
As described further in the Management's Discussion & Analysis, PLAN elected to discontinue earning an interest in the Z2 Zeolite Property as the Company focuses on disruptive innovation and commercialization of fully permitted properties and blue sky products in its portfolio. Additionally, PLAN has accelerated exploration on the Heffley Creek Metals and Pozzolan Property, incurring
PLAN provides information for investors on its corporate progressiveplanet.com/investors/. This includes press releases and other information about financial performance, patents filed, information on corporate governance, and details related to its annual meeting of shareholders.
Neither the
About Progressive Planet:
Headquartered in
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
Disclaimer:
This news release, required by Canadian laws, does not constitute an offer of securities and is not for distribution or dissemination outside
SOURCE
© Canada Newswire, source