Well known STEM (science, technology, engineering and mathematics) education program and drone related products company PCS Edventures! (OTCMKTS:PCSV) had a tough time in the markets last Friday.
Market Action
On Friday, PCSV stock fell 3.81% to $0.0480 with 26k shares, compared to its average volume of 23K shares. The stock has moved within a range of $0.0480 – 0.0500 after opening trade at $0.0500.
Earnings Recap
Although it is true that there was no news about the company on Friday, the stock suffered from a selloff nonetheless and went down by as much as 4%. It now remains to be seen if the PCS Edventures!stock can managed to mount a recover this week. In this context, it is also important to point out that last Monday, the company announced its financial results for the second fiscal quarter of 2022 that had concluded on September 30, 2021.
It might be a good idea to perhaps take a look at the numbers. The company manage to bring in revenues of $0.99 million for the quarter, which reflected a year on year rise of as much as 154% from the $0.39 million that it had generated in the prior year period. On the other hand, the net income for the quarter $0.09 million and that reflected a drop from the $0.21 million that had been generated in the prior year period by PCS Edventures!
Key Quote
Michael Bledsoe, President, commented, “We had another strong quarter, with revenue rebounding significantly from last year’s comparable quarter. Operationally, we are preparing for record sales levels and a surge of order activity at the start of calendar year 2022, albeit within a challenging supply-chain environment. Financially, we paid off a $100,000 note during the quarter, reducing our net debt correspondingly. “
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