Lifeloc Q2 2023 net profit $55K vs loss last year; SpinDx beta testing expected in 2023

Lifeloc Technologies, Inc

2024-Q2 EPS reported $0.00 revenue$4,444,900

Quarterly revenue $2.280M, up 5% YoY; net profit $55K ($0.02 diluted EPS) vs loss of $(202)K in Q2 2022.
Gross margin improved to 45.7% from 30.4% YoY on price increases, lower depreciation, and easing supply constraints.
R&D spending rising for SpinDx platform; beta testing of saliva THC detection device expected in 2023, commercialization in 2024.
CEO notes production backlog partially satisfied; supply constraints no longer a significant impediment to order flow.
Six-month net profit $1K (breakeven) vs loss of $(346)K in same period of 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Lifeloc Technologies, Inc reported the quarter ended June 30, 2023 results: revenue $2.280 million, net income $55 thousand, EPS $0.02 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $2.280 million
Net income: $55 thousand
EPS: $0.02 per diluted share
Result: reported results

Exact text from the filing

Lifeloc posted quarterly net revenue of $2.280 million in the second quarter of 2023, resulting in a quarterly net profit of $55 thousand, or $0.02 per diluted share.

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Source: SEC EDGAR

accession 0001079973-23-001070

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