PCS Edventures! Announces Record Breaking Q2 and Earnings
November 15 2012 - 8:00AM
Marketwired
PCS Edventures!.com, Inc., (OTCQB: PCSV) a leading provider of K-16
programs focused on Science, Technology, Engineering and
Mathematics (STEM), today announced strong results for its second
quarter of FY2013.
The Company reported record results for the quarter ended
September 30, 2012 with revenue of $1,308,510, up 73% from the same
quarter last year, and net income for the quarter of $99,627 after
a charge $128,044 against net income due to the change in fair
value of derivatives related to a portion of our debt. Revenue for
the six months ended September 30, 2012, were $1,873,542, an
increase of 42% compared to the same period in the prior year and
cash flow from operations for the six months ended was
$150,259.
"The entire company is excited and pleased with the outstanding
progress to date this year and we all look forward to continuing
this positive trend for our shareholders," Robert Grover, PCS CEO
said. "We are excited by these large orders; it is further evidence
of the opportunities in the afterschool education market."
The growing STEM education market segment includes national
organizations like the YMCA and the Boys and Girls Club that are in
need of STEM education solutions. The 21st Century Community
Learning Centers Federal Initiative alone grants more than $1.15
billion in funding for these STEM programs annually. PCS targets
the global STEM education opportunity through a combination of
products and services that help students prepare for success in the
21st century global economy.
Full details have been published in the company's 10-Q posted on
November 14th. To learn more about PCS's new and continuing
initiatives, visit the PCS Investor News website.
http://pcsedu.com/news
About PCS Edventures!
PCS Edventures!.com, Inc. (PCS) designs and delivers educational
products and services to the K-16 market that develop 21st century
skills. PCS programs emphasize hands-on experiences in Science,
Technology, Engineering and Math (STEM) and have been deployed at
over 7,000 sites in all 50 United States and 17 foreign countries.
Additional information on our STEM products is available at
http://www.edventures.com.
PCS Edventures! is headquartered in Boise, Idaho, and its common
stock is listed on the OTC Bulletin Board under the symbol
"PCSV."
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 Act of 1934, actual results could
differ materially from such statements.
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