Deep Down Q2 2021 revenue up 66% to $4.5M; net profit of $0.7M vs year-ago loss

Koil Energy Solutions, Inc.

2021-Q2 EPS reported $0.07 revenue$8,450,000

Revenue $4.5M (+66% YoY); gross profit $1.4M (31% margin) vs $1.3M (46%) last year.
Net income $0.7M ($0.06 diluted EPS) vs net loss $5.3M ($0.42 loss) in Q2 2020.
Recorded $1.1M PPP loan forgiveness income; $0.5M reserve for doubtful accounts.
Cash $4.1M; working capital $6.1M; shareholders' equity $8.8M at June 30, 2021.
Negative modified EBITDA of $0.1M vs negative $0.2M a year ago.

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