BOISE, Idaho, June 6, 2016 /PRNewswire/ -- PCS Edventures!.com, Inc., (PCSV) a leading provider of K-12 Science and Engineering (STEM) programs and leader in the design and manufacturing of precision technology for drone racing and robotics today released an update on Company progress and preliminary, unaudited financials for FY2016, ended March 31, 2016. Full, audited financials will be released on or around June 14, 2016 with the filing of the 10-K Annual Report.
"Shareholders continue to ask for updates on Company initiatives and performance so I am sharing some early results from FY2016 and a brief update on the status of our ongoing initiatives," said Todd Hackett, CEO. "First, FY2016 Q4 was a great quarter for PCSV with $1,189,000 (unaudited) in revenue dropping $192,160 (unaudited) in profit to the bottom line. In total, our unaudited revenues for FY2016 were $3,335,612, an increase of 15% compared to last year's $2,901,113. Although we lost $424,455 (unaudited), it is a significant improvement from FY2015 in which we reported a loss of $1,447,820. Significantly, we accomplished this while decreasing cost of sales by 21% and executing an asset purchase of Thrust-UAV, a new unit that we have funded with additional personnel, R&D equipment, and a new, expanded location for manufacturing and fulfillment. Our Thrust UAV business unit will be announcing distributors, product news, and ship dates later this month. Other Company improvements include expanding our STEM products and sales channels, the development of our digital platform, refining our EdventuresLAB, and exporting STEM programs Internationally. Read the expanded version of this release here. We appreciate your continued support of PCSV."
About PCS Edventures!
PCS Edventures!.com, Inc. (OTCQB: PCSV) is a Boise, Idaho company that designs and delivers technology-rich products and services for the K-12 market that develop 21st century skills. PCS programs emphasize experiential learning in Science, Technology, Engineering, Arts, and Math (STEAM) and have been deployed at over 7,000 sites in all 50 United States and 17 foreign countries. Additional information on our STEAM products is available at http://www.edventures.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934; actual results could differ materially from such statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pcsv-discusses-q4-and-annual-results-300279549.html
SOURCE PCS Edventures!.com, Inc.