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Message: PyroGenesis Announces Q3, 2019 Results: Revenues $2.1MM, Gross Margin 45%, Current Backlog $29.5MM
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Re: PyroGenesis Announces Q3, 2019 Results: Revenues $2.1MM, Gross Margin 45%, Current Backlog $29.5MM

posted on Nov 27, 2019 04:33PM
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I think there is a little mistake in the PR.

Revenues recorded in Q3 2019 were generated primarily from:

Should read:

Revenues recorded in 2019 were generated primarily from:

Otherwise the numbers don't ad up.

 

Reading the financial statements in Sedar confirms this:

Revenue

PyroGenesis recorded revenue of $2,097,437 in the third quarter of 2019 (“Q3, 2019”), representing an increase of 91% compared with $1,097,726 recorded in the third quarter of 2018 (“Q3, 2018”). Revenue for the nine months of fiscal 2019 was $3,747,649 a decrease of 18% over revenue of $4,579,680 during the same period in 2018.

Revenues recorded in during the nine months of fiscal 2019 were generated primarily from:

  1. (i)  PUREVAPTM related sales of $328,733 (2018 - $2,249,859),

  2. (ii)  torch related sales of $1,932,353 (2018 - $Nil),

  3. (iii)  the development and support related to systems supplied to the U.S. Military for $500,946 (2018 - $825,151).

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