Atlas Technology International (OTCQB:ATLT) announced an expected significant sequential and year-over-year gain for its third fiscal quarter ended, March 31, 2017.
As quoted in the press release:
“Our third quarter continues to be on the record pace set in the first half of our current fiscal year,” said Matthew Tsai, Chief Executive Officer of Atlas Technology International, Inc. “Demand for our existing and new touch screen product lines continue to increase faster than anticipated, which should enable us to book more revenues in just one quarter than the entire first half of fiscal 2017.”
Revenues in the third quarter of fiscal 2017 are expected to be in the range of $1.0 to $1.2 million, an increase of between 30%-56% on a sequential basis compared to revenues of $769,821 in the Company’s second fiscal quarter ended December 31, 2016.
Gross margins are expected to improve slightly towards approximately 29% as the Company expects to see continued gains in earnings due primarily to an expanded client base, new international revenue channels as well as overall economies of scale.
Net income is expected to increase sharply, rising over 10-fold on a sequential basis to a range of between $90,000-$100,000. In the second quarter, the Company posted a profit of $4,346 compared with a loss of $112,957 in the first quarter.