Bantec, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
September 05, 2023 at 06:15 am
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Bantec, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 0.590333 million compared to USD 0.750756 million a year ago. Net loss was USD 0.643383 million compared to USD 0.457257 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.12 a year ago.
For the nine months, sales was USD 1.82 million compared to USD 1.52 million a year ago. Net loss was USD 2.26 million compared to USD 2.03 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.68 a year ago.
Bantec, Inc. is a product and service company targeting the United States government, state governments, municipalities, hospitals, universities, manufacturers and other building owners. The Company provides product procurement, distribution, and logistics services through its wholly owned subsidiary, Howco Distributing Co. (Howco) to the United States department of defense and defense logistics agency. The Company, through Bantec Sanitizing, offers sanitizing products and equipment through its new store bantec.store. The Company sells drones and related products manufactured by third parties to various parties, primarily local government entities. Its drone programs constitute selling its customers drones, drone accessories, accident reconstruction software, drone training, drone services, counter-drone technology, certificates of authorization (COAs) and Waivers. The Company has operations based in Sparta, New Jersey and Vancouver, Washington.