Cleartronic, Inc. Announces First Quarter 2022 Financial Results, 33% Increase in Gross Profit
BOCA RATON, Fla., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Cleartronic, Inc. (CLRI: OTCPINK) released its 2022 first fiscal quarter financial statements for the three months ended December 31, 2021. CLRI continues to show continued success with eight consecutive quarters of profitable operations.
Marc Moore, CEO of Cleartronic (the “Company”), stated, “We are very pleased to demonstrate disciplined growth and consistent profitability with the expansion and use of our ReadyOp platform, especially during these periods of reduced and unstable economic activities nationwide due to the COVID-19 pandemic. Through these challenging times, Cleartronic and ReadyOp™ have continued to expand our customer base with new businesses and government agencies, each showing their heightened interest in how our ReadyOp software platform benefits their operations. We are seeing a sustained increase in the number of new customers and growth in the use of ReadyOp by our current customers. We continue to focus on strengthening our balance sheet by improving working capital and reducing debt.”
Highlights of the First Quarter’s performance for the three months ended December 31, 2021, compared to the same period in December 2020, include an increase of 33% in Gross Profit and an increase in profit from Continuing Operations and Adjusted Net Income of 70%.
The full 10-Q report for the three months ended December 31, 2021, can be viewed on the US SEC EDGAR Platform: www.sec.gov/edgar.shtml
About Cleartronic, Inc.
Cleartronic, Inc. (CLRI: OTCPINK), a diversified holding company, creates and acquires operating subsidiaries with the intended goals of manufacturing and selling products, services, and integrated systems to governmental agencies, private, and not-for-profit businesses, as well as to the general public. In addition to its ongoing projects, Cleartronic continues its endeavors to research and develop new and expanded projects to support its overall service components while operating and concentrating on its primary operating subsidiary ReadyOp Communications, Inc. - www.cleartronic.com & www.readyop.com.
Safe Harbor Statement
This news release contains statements that involve expectations, plans, or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties so that actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements because of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact and Inquiries for Investor Relations:
Larry Reid, Chief Financial Officer
(561) 939-3399 Ext. 143
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