May 30, 2016

Desktop 3D printer manufacturer Tinkerine Studios has today released its financial results for the fiscal period ending March 31, 2016.

Highlights Q1 2016

  • Revenue of $171,689 for Q1 2016, a 58% increase from the comparable period ending March 31, 2015.
  • Gross Margin of $64,572, a 177% increase from the comparable Q1 2015 period.
  • A 32% reduction in expenses in Q1 2016 versus the previous years’ comparable period.
  • Net Loss of $311,223 for the period ending March 31, 2016 versus a net loss of $475,027 in the comparable Q1 2015 period.
  • Appointed Mr. Justin Sy as interim Chief Financial Officer.
  • Closing of private placement financing in the amount of $315,000, subscribed for by insiders and founders of the Company.
  • Increased inventory of raw materials and finished products to $608,351 in anticipation of cyclical sales to educational institutions in Q2 and Q3.

Financial Highlights

      Q1 2016   Q1 2015  
Revenue     $ 171,689   $ 108,542  
Cost of Goods Sold     $ 107,117   $ 85,191  
Gross Profit     $ 65,572   $ 23,351  
Expenses     $ 375,796   $ 551,975  
Net Income (Loss)     $ (311,223 ) $ (475,027 )

 

 

Posted in 3D Printer Company

 

 

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