HOLLYWOOD, Fla., Aug. 16, 2021 /PRNewswire/ — IDenta Corp. (OTCQB: IDTA) is a worldwide leader in the development of Detection Kits to identify Drugs and Explosives and Unique Forensic Products in the Homeland Security Market and Consumer Market. Today IDenta Corp reported its 2021 second quarter financial statement. The revenue was decrease compared to the same period of 2020 but the net profit increase in 17% compared to those periods.
Mr. Amichai Glattstein, Chief Executive Officer, commented: “The company is showing a particularly profitable quarter in light of the decrease in sales compared to the same period last year. As a result of deferring supplies and freezing budgets from the COVID virus in different countries of the world in which we operate, the company has maintained efficiencies and increased profits even compared to other quarters with higher sales. The company knows how to adapt to different scenarios in the world and makes the necessary adjustments in record time in order to increase activity in the various fields.”
Highlights of the Second Quarter of 2021 compared to the Second Quarter of 2020:
- Revenues for the second quarter of 2021 were $387,042 compared to revenues of $495,666 in the second quarter of 2020. This is a 22% decrease in sales.
- Gross profit increase to $286,129 in the second quarter of 2021 compared to gross profit of $242,526 in the second quarter of 2020. This is a 18% increase.
- Operating profit increased to $119,992 in the second quarter of 2021 compared to $101,595 in the second quarter of 2020. This is a 19% increase.
- Net profit for the second quarter of 2021 was to $112,772 compared to net profit of $96,424 in the second quarter of 2020. This is a 17% increase.
- Cash and cash equivalents decrease to $400,704 for the second quarter of 2021 compared to $639,705 for the second quarter of 2020 as a result of giving credit to customers.
About IDenta Corp.
IDenta Corp. is a global leader in the development and supply of Field Detection and Home Diagnostics Testing Kits for Drugs & Explosives and Unique Forensic Products in the Homeland Security and Consumer Markets. IDenta develops, manufactures and distributes revolutionary products for both the professional Law and Retail markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world.
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. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on management’s expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.
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SOURCE IDenta Corp.