JERUSALEM, March 31, 2020 /PRNewswire/ -- IDenta Corp. (OTCQB: IDTA) is a worldwide leader in the development of Detection Kits to identify Drugs and Explosives and Unique Forensic Products in the Homeland Security Market and Consumer Market. Today IDenta Corp reports its 2019 Annual financial statement which shows revenues of $1,012,822 for 2019 year compared to $826,975 in 2018.
Mr. Amichai Glattstein, Chief Executive Officer, commented: "We are pleased with the strongest annual results ever which show a steady trend of increasing sales. The changes the company has undergone prove in terms of sales growth, entry into new markets and new customer orders. The company has advanced on another level of product development according to specific customer requirements, which allows us to penetrate markets and organizations that are looking for creative and unique solutions that we know how to provide and deliver. We are ready and looking forward to 2020."
Highlights of the Annual Report of 2019 compared to Annual Report of 2018:
- Revenues for 2019 were $1,012,822 compared to revenues of $826,975 in 2018;
- Gross profit increased in 2019 to $624,876 compared to $592,565 in 2018;
- Operating profit for 2019 decrease to $102,881 compared to operating profit of $148,166 in 2018 as a result of an increase in the number of employees, sales commission payments and participation in exhibitions;
- Net profit decrease in 2019 to $65,519 compared to $142,862 in 2018 as a result of a significant increase of 41% in inventory and a sharp decline in currency rates;
- Cash and cash equivalents in 2019 increased to $224,623 compared to $195,648 in 2018;
About IDenta Corp.
Since 2002, IDenta Corporation and its subsidiary IDenta Ltd has been recognized as a worldwide leader in the development of proprietary on-site Drug, Drug Precursor and Explosive detection kits. IDenta develops, manufactures and distributes revolutionary products for both the professional and civil markets which consistently pass the highest qualifications and testing procedures of law enforcement and security agencies around the world.
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SOURCE Identa Corp