Lifeloc Technologies Inc (OTCMKTS:LCTC) Stock Gains Momentum After Quarterly Earnings

In the past week Lifeloc Technologies Inc (OTCMKTS:LCTC) has seen its stock make a strong move and clock gains of as much as 12% as a consequence. In light of such considerable gains, it may be a good time for investors to take a closer look at Lifeloc and figure out if the rally is going to continue or not.

Market Action

On Tuesday, LCTC stock ended flat at $4.50 with 200 shares, compared to its average volume of 663 shares. The stock moved within a range of $4.0000 – 4.5000 after opening trade at $4.

Earnings Recap

As it happens, the company was in the news on Tuesday after it announced its financial results for the fiscal year that ended on December 31, 2021. It may be a good idea for investors to take a look at some of the highlights.

The company managed to bring in net revenues to the tune of as much as $7.054 million in the fiscal year and in addition to that, it also managed to bring in post-tax profit of $676,000. The profits worked out to net income of $0.27 a diluted share.

The revenues in 2021 reflected year on year growth to the tune of as much as 11% from the previous year. It is important to note that it also reflected a recovery as it took the sales figure to the levels that had been seen prior to the pandemic.

Key Quote

“We saw some sales recovery in 2021 and we expect to see more in 2022, with many customers having deferred new equipment purchases during the pandemic,” commented Dr. Wayne Willkomm, President and CEO.

Traders Note

LCTC stock is trading above the 20-Day and 50-Day Moving averages of $4.51 and $4.77. Moreover, the stock is trading is the neutral zone with RSI stands at 46.

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