- Revenues of $1,013,612 vs. $111,171, a year over year increase of 812%
- Gross profit of $988,414 vs. $87,286 in fiscal 2018, an increase of 1032%
- Net income of $582,880 vs. fiscal 2018 income of $131,129, an increase of 345%
- 42% reduction in shareholder deficit
BOSTON, MA, Aug. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- ValueSetters, Inc. (OTC:VSTR) announced net income of $582,880 for fiscal 2019 on revenues of $1,013,612. Revenues increased by 812% over the previous year, while net income grew by 345%. The company reported a gross profit margin of 98%.
“This was a strong year for ValueSetters, and we achieved many significant milestones,” said Cecilia Lenk, CEO. “We generated revenues in excess of $1 million, achieved profitability, and sustained positive operating cash flow for each of the previous four quarters. In addition, we expanded our consulting practice, with the launch of three new verticals: impact investing, logistics technology, and economic development.”
“I could not be more proud of the ValueSetters team,” added Ms. Lenk. “Each team member played a critical role, and we look forward to building on this success in the future.”
ValueSetters will hold an investor conference call to review year-end results on August 7th, at 12:00 p.m. ET. To access the call, please dial 800-346-7359 or 973-528-0008 and provide the following access code: 494685.
For additional disclosure regarding operating results, please refer to the Annual Report on Form 10-K for the period ended April 30, 2019, which has been filed with the Securities and Exchange Commission.
Led by a team of professional investors, digital marketing experts, and technology specialists, ValueSetters is a publicly- traded boutique advisory firm with unique expertise in helping early stage companies raise capital over the internet. The company also provides technology consulting services as well as strategic advice to help companies grow and evolve to meet the challenges of today's marketplace. For more information, visit our website at http://valuesetters.com.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Coreen Kraysler, CFA