Deep Down Q2 revenue down 23% to $3.5M; net income $0.2M, EPS $0.01

Koil Energy Solutions, Inc.

2022-Q2 EPS reported -$0.01 revenue$7,100,000

Revenue $3.5M, down 23% YoY from $4.5M; net income $0.2M ($0.01 diluted) vs $0.7M ($0.06) prior year.
Gross profit margin improved to 42% from 31% due to lower materials costs.
Modified EBITDA positive $0.2M compared to negative $0.1M in Q2 2021.
Repurchased 147,059 shares at average $0.68 in June 2022.
Rebranding to Koil Energy Solutions pending FINRA approval; expanding into military and hydrogen energy.

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