WASHINGTON, Aug. 15, 2022 /PRNewswire/ -- IDenta Corp. (OTCQB: IDTA) is a worldwide leader in the development of Field Detection and Home Diagnostic Testing Kits for Narcotics, Explosives and Unique Forensic Products in the Homeland Security and Consumer Markets. Today IDenta Corp reported its 2022 second quarter financial statement and shows increase in sales compared to the previous quarter and shows profit.
Mr. Amichai Glattstein, Chief Executive Officer, commented: "During the second quarter the company showed a return to growth while increasing sales and presenting a quarterly profit. In addition, the company continued to expand the marketing infrastructure in the US market while participating in exhibitions and expanding the distribution channels that will bear fruit in the near future."
Highlights of the Second Quarter of 2022 compared to the Second Quarter of 2021:
- Revenues for the second quarter of 2022 were $378,982 compared to revenues of $387,042 in the second quarter of 2021.
- Gross profit decrease to $261,115 in the second quarter of 2022 compared to gross profit of $286,129 in the second quarter of 2021.
- Operating profit decreased to $17,095 in the second quarter of 2022 compared to $119,992 in the second quarter of 2021 as a result of investments in marketing and sales in the US market.
- Net profit for the second quarter of 2022 was $7,488 compared to net profit of $112,772 in the second quarter of 2021. Part of that as a result of falling currency rates.
- Cash and cash equivalents increase to $303,853 for the second quarter of 2022 compared to $400,704 for the second quarter of 2021.
About IDenta Corp.
IDenta Corp. is a global leader in the development and supply of Field Detection and Home Diagnostics Testing Kits for Drugs & Explosives and Unique Forensic Products in the Homeland Security and Consumer Markets. IDenta develops, manufactures and distributes revolutionary products for both the professional Law and Retail markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world.
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Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements" that are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
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