PHOENIX, May 7, 2019 /PRNewswire/ -- Trutankless, Inc. (OTCQB: TKLS) released its earnings report for Q1 2019, touting a Company record 56% increase in gross sales from the previous quarter. Sales in Q1 2019 were $638,275, compared to $407,160 in Q4 2018. Additionally, there was a Company record of 64% increase in gross margins to $169,912 in Q1 2019 compared to $103,599 during the same period 2018.
The Company attributes this continued growth to several factors, including strong demand for its Trutankless line of smart water heaters amongst a growing number of the nation's largest homebuilders, as well as the impact of growth in channel sales.
"We're pleased with record revenue for the first quarter of 2019 and hope we'll continue to see accelerating adoption of the Trutankless product line among the nation's largest homebuilders and home service companies," stated Michael Stebbins, president of Trutankless, Inc., "We're actively opening new markets to continue our momentum. Our recent increases in production and a growing sales force are expected to fuel recognition of the Trutankless brand as a best-in-class smart home product."
Trutankless launched its first-generation Trutankless unit at the IBS show in 2014, where it was named "Best Home Technology Product." Trutankless also took home the Governor's Award of Merit for Energy and Technology Innovation at Arizona Forward's Environmental Excellence Awards in the same year. Since then, the product has garnered a multitude of accolades for its forward-thinking technology and energy efficiency, including a silver award in the Appliance Design Excellence in Design contest, a Special Mention in the Architizer A+ Awards, and was named a Hot Product by the editors of Green Builder Magazine. In 2016 Trutankless was featured as a water saving device in Consumer Reports' Top 5 Remodeling Trends for 2016 write-up. The Company has been awarded patents with 34 claims on its innovative advances in water heating technology.
About Trutankless, Inc.:
Trutankless, Inc. (OTCQB: TKLS) is a technology-driven developer of accessible, next-generation home automation and efficiency systems. The Company's primary products are a line of electric tankless water heaters that surpasses traditional tank water heaters in energy efficiency, output, dependability and environmental sustainability. The Company sells its products to plumbing wholesale distributors and dealers throughout the United States. Trutankless, Inc. was founded in 2008 and is headquartered in Scottsdale, Arizona.
Please visit www.trutankless.com or call 855-TO-BUY-TRU.
Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the release by trutankless of its line of electric tankless water heaters or added key strategic sales and distribution partners are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, risks of the key strategic sales and distribution partners ability to sell our product, and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions, and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Trutankless, Inc.