PHOENIX, Dec. 04, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alpine 4 Technologies Ltd. (OTCQB:ALPP) today announced financial results for its 3rd Quarter, ending September 30, 2018. The company posted quarterly revenue of $4.79 million, which is growth of 115% over Q3 2017's revenue of $2.22 million.
Kent B. Wilson, CEO of Alpine 4, had this to say: "The growth for 2018 has been remarkable. Capitalizing on that growth in Q2 and Q4 2018, Alpine 4 began a set of initiatives to enhance our infrastructure both at the corporate level and at our subsidiary level. While these initiatives have a causal effect on our profit and loss statement, they will also allow Alpine 4 to more than double in size over the next 12 months and release what we call Kinetic Profit at each of our subsidiaries. Many of you have heard about our acquisition model of DSF (Driver Stabilizer and Facilitator), but we also employ what we call Optimization vs. Asset Producing as a means to define where a subsidiary is at in its life-cycle with Alpine 4. When a new subsidiary is acquired, it goes through a period of Optimization where we as a company define the "What Is", "What Should Be" and "What Will Be". This process is designed to deliver two main things. First, gained efficiency through enhanced management training and second, to release a company's potential profit or what we call Kinetic Profit. In 2018, we have made great strides towards moving all of our subsidiaries into what we call Asset Producing.
Earnings by Subsidiary Breakdown:
Quality Circuit Assembly (QCA): QCA's electronics contract manufacturing sales accounted for 61% of Alpine 4's quarterly revenue with $2.91 million in sales. QCA posted an EBITDA profit of $582k and a net profit of $337k for Q3 2018.
American Precision Fabricators (APF): APF's precision sheet metal manufacturing sales accounted for 25% of Alpine 4's quarterly revenue with $1.2 million in sales.
Venture West Energy Services (VWES): VWES had 10% of revenue or $452k thousand.
ALTIA: ALTIA rounded the remaining revenue at $231,212 or 4%.
Alpine 4 is providing the following revenue guidance for its Q4 2018:
Anticipated revenue between $3.7 million and $4.1 million.
The information disclosed in this press release is made as of the date hereof and reflects Alpine 4's most current assessment of its historical financial performance and its future revenues. Actual financial results may differ from those contained herein. These forward-looking statements are not guaranteeing of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors that the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
Alpine 4 Technologies Ltd.
This article was written by cool news network.