EPhase Technologies, Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2021
mPhase Technologies, Inc. announced earnings results for the fourth quarter and full year ended June 30, 2021. For the quarter, the company reported revenue increased slightly to $7.8 million compared to $7.6 million in the prior year quarter. Operating loss of $0.5 million was directly affected by a significant increase in software development, which jumped 205% to $1.8 million. Net loss of $0.4 million, compared to net income of $0.75 million in the year-ago quarter.
For the year, the company reported Net income of $1.7 million, compared to a loss of $14.1 million in Fiscal 2020. Annual EPS was $0.02 compared to loss per share of $1.08 in the prior year.