WASHINGTON, November 15, 2022 /PRNewswire/ — IDenta Corp. (OTCQB: IDTA) is a global leader in the development of field detection kits and home diagnostic tests for narcotics, explosives and unique forensic products in the homeland security and consumer markets. Today, IDenta Corp released its third quarter 2022 financial statements and shows an increase in gross profit, operating profit and net profit compared to the same period last year.
Mr. Amichai GlattsteinCEO, said, “During the third quarter, the company showed a return to profitability and efficiency. These results are even more impressive in the context of a difficult macro-economic environment. In the third quarter, we continued to progress and solidify our partnership with our new partnerships, we participated in a large number of exhibitions and continue to build the infrastructure in the American market. I am extremely proud of all that has been accomplished. We remain well positioned to continue striving for excellence, improving returns and creating long-term value.”
Highlights of the third quarter of 2022 compared to the third quarter of 2021:
- Revenue for the third quarter of 2022 was $332,296, compared to revenue of $335,121 in the third quarter of 2021.
- Gross profit increased to $287,451 in the third quarter of 2022 compared to a gross margin of $219,286 in the third quarter of 2021. This is an increase of 31%.
- Operating profit increased to $19,870 in the third quarter of 2022 compared to ($12,177) in the third quarter of 2021. This is a very significant increase and proof of rapid effectiveness.
- Third quarter 2022 net profit increased to $19,419 compared to the net profit of ($45,792) in the third quarter of 2021. This is a significant significant increase during a complex global period and very large fluctuations in exchange rates.
- Cash and cash equivalents decrease for $324,475 for the third quarter of 2022 compared to $347,151 for the third quarter of 2021.
About IDenta Corp.
IDenta Corp. is a global leader in the development and supply of field detection kits and home diagnostic tests for drugs and explosives and unique forensic products to the homeland security and consumer markets. IDenta develops, manufactures and distributes revolutionary products for the professional legal and retail markets that consistently pass the highest qualifications and testing procedures of law enforcement and security agencies worldwide.
Safe Harbor Statement
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. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. forward-looking statements. These forward-looking statements are based on management’s expectations as of the date hereof, and the company assumes no responsibility to update these statements in the future.
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