Syft first-half profit improves; wary on outlook

Tue, 24 Nov 2020

Syft Technologies warned its second-half result will likely be affected by ongoing sales volatility due to covid-19 and increased costs from its expanded sales efforts in the US and Europe.The USX-listed company, which makes sniffer devices to test air quality, reported a $1.84 million net profit for the six months ended Sept. 30, compared with a $1.09 million loss for the same period a year earlier.Revenue increased almost 10 percent to $15.3 million, and gross margin increased to 46 percent from 38 percent a year earlier.Syft attributed that...

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