Brekford Corp. Reports Positive Increase of 327% in Net Income for the First Quarter 2011
On Friday Brekford reported an incredible positive increase in Net Income for Q1. Take a look at the details.
StockGuru has for months explained the Brekford business model which is the basis for this incredible move. Now you see the results.
It remains indisputable that Brekford is on the cutting edge of new technology in law enforcement. This established Company saw the opportunity and expertly embraced it.
With additional contracts expected to be added, the program is expected to generate additional revenues in the following quarters.
The Company expects gross margin to improve in the remaining quarters of 2011 as the automated traffic enforcement program gains acceleration with the implementation of new contracts in upcoming months.
Revenues UP 22.1%
Gross Profit UP 74.8%
Net Income UP 326.8%
Company’s assets totaled approximately $5.9 million
Cash Position $2.3 million
Company’s Assets Increase 29.2% In Q1
- As of March 31, 2011, the Company’s assets totaled approximately $5.9 million compared to approximately $4.5 million at the end of first quarter of 2010, an increase of 29.2 %.
- The Company’s cash position as of the end of first quarter of 2011 improved to total $2.3 million, up from $1.2 million at the end of first quarter of 2010, to reflect positive net income.
360º Traffic Enforcement Solution Working
Brekford sells its own:
- Has its own state of the art processing and call center
In addition, the Company has been awarded indefinite delivery/indefinite quantity (IDIQ) contracts for over $4.0 million from a quasi-government utility over a period of one year with initial deliveries commencing during the first quarter of 2011.
Brekford provides services to the U.S. military, various federal entities and numerous security and public safety agencies throughout the United States with an end-to-end suite of mobile computer and video technology, vehicle upfitting services, and automated traffic safety solutions.
This release contains forward-looking statements within the meaning of that term in Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to, market conditions, the cost and success of development activities and ability to successfully manage growth. Readers are referred to the documents filed by Brekford Corp. with the SEC, specifically the Company’s most recent reports filed on Form 10-K and Forms 10-Q, which further identify the important risks, trends and uncertainties which could cause actual results to differ materially from the forward-looking statements in this press release. The Company expressly disclaims any obligation to update any forward-looking statements.
BFDI Disclosure: StockGuru entered into an investor relations consulting and market awareness contract in March of 2011. BFDI has hired us for six thousand dollars. We have taken no free trading shares. To avoid all potential conflicts of interest, we never sell shares into the open market during an active market awareness or investor relations program. StockGuru is not a registered investment adviser or a broker/dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.