Legend Power (R) Reports First Quarter 2021 Financial Results

Legend Power (R) Reports First Quarter 2021 Financial Results

VANCOUVER, BC / ACCESSWIRE / March 1, 2021 / Legend Power® Systems Inc. (TSXV: LPS) (OTCQB: LPSIF) (“Legend Power” or the “Company”), a global leader in commercial electrical system solutions, reported today its first quarter 2021 financial results for the quarter ended December 31, 2020. The company has also scheduled a conference call to provide an update on its activities and discuss its first quarter 2021 financial results for Tuesday, March 2, 2021 at 11 a.m.ET (8:00 a.m. PT). The call will be moderated by Randy Buchamer, President and CEO and Steve Vanry, CFO (details below). A complete set of financial statements and management report has been filed on the site www.sedar.com. All dollar figures are expressed in Canadian dollars.

Financial Highlights for the Quarter Ended December 31, 2020 (Q1 2021)

Revenues of $ 766k versus $ 1.00 million reported in the first quarter of 2020;

Gross profit of $ 202k versus $ 137k in the first quarter of 2020;

Adjusted EBITDA loss of $ 678k versus a loss of $ 1.33 million in Q1 2020;

Net loss of $ 874k compared to the loss of $ 1.48 million in Q1 2020; and

Cash of $ 2.04 million, no debt and $ 2.99 million in working capital as of December 31, 2020.

Quarterly update

Legend’s portfolio of opportunities – with both potential and existing clients – continued to grow in the first quarter of fiscal 2021 ending December 31, 2020. more access to high-level decision-makers, especially those interested in tenant security and cost reduction by optimizing incoming network power The increase …

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