Dec. 21, 2011
/PRNewswire/ -- Inova Technology ("OTC Bulletin Board: INVA") released its 10Q for the quarter ending
. The highlights were:
- Revenue up by 18% to $5,658,150 for the three months ending October 2011 compared to the same period last year.
- Net income for the three months ending October 2011 increased by $643,197 from $263,229 compared to a loss of $379,968 for the same period last year.
Inova CEO, Adam Radly, said "We are very happy with our management and employees. They continue to execute at a high level quarter after quarter despite difficult economic conditions. We will continue to execute our current business plan to the fullest extent possible while reviewing various expansion opportunities."
Inova also recently announced that its backlog of awarded contracts has hit record highs. Mr. Radly also said that "The Company is working through the contract bidding season right now. We will provide updates regarding the additional projects during the first three months of 2012."
About Inova Technology
Inova Technology, Inc. (INVA) is an enterprise level Information Technology solutions provider specializing in providing proprietary RFID solutions, wireless networking, storage and security technology solutions and IT professional services. Our objective is to implement and optimize solutions for our clients with best of breed technology and the best possible service.
For more information please visit the company website at:
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.