DynTek, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015
The company reported revenues of $113,379,000 for the nine months ended March 31, 2015, an increase of $6,265,000 or 5.8%, from $107,114,000 in the prior nine months ended March 31, 2014. In 2015 revenue increase and gross profit decrease is attributable to several large dollar, lower margin product sales with government customers in the New York district. The company reported EBITDA of $3,720,000 for the nine months ended March 31, 2015, a decrease of $372,000 or 9.1%, as compared to $4,092,000 in the prior year nine month period. Net income was $1,525,000 for the nine months ended March 31, 2015, or $0.67 per diluted share, a decrease of $1,243,000, 44.9% and $0.59 per diluted share, over the net income of $2,768,000 and $1.26 per diluted share in the nine months ended March 31, 2014, primarily due to a lower non-cash deferred income tax provision in prior fiscal year to date 2014. Income from operations was $3,461,000 against $3,685,000 a year ago. Income before income taxes was $2,539,000 against $3,004,000 a year ago.