News
Paragon Technologies press release
EASTON, PA / ACCESSWIRE / May 10, 2024 / (OTC PINK:PGNT), a holding company, announced its results for the three months ended March 31, 2024, on May 10, 2024.
Paragon Technologies, Inc.’s consolidated statement of operations for the three months ended March 31, 2024 and 2023 is summarized below. For more details on our results, shareholders should carefully review our quarterly report, which can be found at www.pgntgroup.com.
|
Three months are over |
||||||||
|
(In thousands) |
March 31, |
March 31, |
||||||
|
Liquid sales |
$ |
31,521 |
$ |
29,127 |
||||
|
Operating profit |
534 |
1,524 |
||||||
|
Other income (expenses) |
||||||||
|
Loss realized on marketable securities |
(77 |
) |
(37 |
) |
||||
|
Unrealized gain (loss) on marketable securities |
(78 |
) |
87 |
|||||
|
Interest Income |
58 |
39 |
||||||
|
Interest Expenses |
(196 |
) |
(340 |
) |
||||
|
Income granted |
6 |
5 |
||||||
|
Total other expenses |
(287) |
(246) |
||||||
|
Profit before taxes and minority interest |
247 |
1,278 |
||||||
|
Income Tax Expense |
235 |
434 |
||||||
|
Net income before non-controlling interest |
12 |
844 |
||||||
|
Net profit attributable to minority interest |
65 |
137 |
||||||
|
Net profit (loss) attributable to Paragon Technologies, Inc. and subsidiaries |
$ |
(53) |
$ |
707 |
||||
Results Analysis and General Business Comments:
In 2018, newly issued accounting rules required all companies to record any losses or unrealized gains from capital investments on the income statement.
Paragon’s investment gains or losses reflect gains or losses realized in the company’s investment portfolio. Paragon uses pretax operating profit, a non-GAAP financial measure, in its analysis of financial results. Paragon Technologies defines pretax operating profit outside of the Company’s investment gains/losses.
About Paragon Technologies
Paragon Technologies, Inc. is a holding company that has subsidiaries that engage in a variety of business activities, including materials handling, distribution, real estate and investments.
For more information, contact the company by phone info@pgntgroup.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the operations, financial condition and performance of the Company and are based largely on beliefs and expectations of the Company. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. . Such factors and risks include, among others, those related to: general economic conditions, including those in the markets in which the Company operates; the Company’s ability to expand its revenue streams; technological changes in the Company’s sector; the continued acceptance of the Company’s distribution channel by suppliers and customers; decreased demand for the Company’s products and services and the Company’s ability to retain or replace its significant customers; factors affecting capital markets and stock prices generally; economic and political risks of selling products in foreign countries, including risks of noncompliance with U.S. and foreign laws and regulations; cybersecurity risks and risks of damage and interruptions to information technology systems; and the Company’s ability to complete acquisitions, strategic investments, divestitures, mergers or other transactions on acceptable terms or at all. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can management assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors , could cause actual results to differ materially from those contained in any forward-looking statements. All statements in this press release, other than purely historical statements, are forward-looking statements. The Company does not intend and undertakes no obligation to update any forward-looking statements made in this press release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
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SOURCE: Paragon Technologies, Inc.
See the original Press release at accesswire.com