Forterus Inc. (Pink Sheets: FTER), announced results from the first quarter of its 2010 fiscal year.
Key Financial Highlights
Historical first quarter records were achieved in total revenue, operating income, operating margin net income, EPS and cash flow from operations as follows:
- Total revenue up 106 percent year over year
- Operating income up 483 percent year over year
- EPS up 550 percent to $0.013
- RPS up 81 percent to $0.123
Business Overview
Total revenue for the first quarter of 2010 grew 106 percent to $1,885,802 compared to $915,543 in the first quarter of 2009. Operating income for the first quarter increased 483 percent to $199,132 compared to $34,105 in the first quarter of 2009. Earnings Per Share (EPS) for the first quarter increased 550 percent to $.013 compared to $.002 in the first quarter of 2009. Revenue Per Share (RPS) increased 81 percent to $.123 compared to $.068 in the first quarter of 2009. The company had 15,324,864 shares outstanding at the end of the first quarter.
"2010 is off to a strong start for Forterus," stated CEO Paul Howarth. "We achieved historical first quarter highs in revenue and earnings. Our ability to raise additional capital in the first quarter helped contribute to our increase in marketing and bed count, which enabled us to achieve stronger than expected Q1 results."