Mission Ready Highlights Q3 Financial Results
AGM and Live Event with Q&A to be held on December 1, 2021
VANCOUVER, BC, Nov. 30, 2021 /CNW/ - Mission Ready Solutions Inc ("Mission Ready" or the "Company") (TSXV: MRS) (OTCQX: MSNVF), a provider of comprehensive government contracting solutions, recently released its third quarter 2021 ("Q3 2021") financial results for the three and nine months ended September 30, 2021.
The following are highlights of the nine months ended September 30, 2021 (all dollar figures are quoted in Canadian dollars unless otherwise noted)
- Gross revenues of $84.74 million (an increase of $22.30 million from the same period in 2020)
- Gross margin of 8.91% for the period
- Operating expenses relative to total revenue decreased to 8% (as compared to 14% from the same period in 2020)
- Net income of $1.54 million (an increase of $4.03 million from a net loss in the same period in 2020)
- Adjusted EBITDA was $5.27 million (an increase of $4.39 million from the same period in 2020)
- $7.23 million working capital improvement from year-end
- Cash and cash equivalents of $4.35 million (an increase of $2.72 million from year-end)
- 39% decrease in liabilities from year-end
A copy of the unaudited condensed consolidated interim financial statements for the nine months ended September 30, 2021, and the associated Management's Discussion and Analysis ("MD&A") are available on SEDAR.com under the Company's profile.
As a reminder, Mission Ready's annual general meeting of shareholders (the "AGM" or the "Meeting") will be held virtually via teleconference on Wednesday, December 1, 2021, at 11:00 A.M. PST (2:00 P.M. EST).
Registered shareholders and validly appointed proxyholders may attend the Meeting (conference room #: 448-444-850) by calling:
- 1 888.299.2873 (Canada toll-free)
- 1 888.585.9008 (US toll-free)
- To dial in from any other country, please contact the Company at 604.737.2303 before the Meeting date for dial-in particulars.
Registered shareholders who attend the virtual Meeting will have an equal opportunity to participate at the AGM, regardless of their geographic location.
The AGM will be followed at 11:30 A.M PST (2:30 P.M. EST) by a presentation from President and CEO Buck Marshall, including a live Q&A period where management from Mission Ready will be available to answer questions. Questions can also be submitted prior to the event at [email protected].
To register for the event, please visit:
https://us06web.zoom.us/webinar/register/6116372668438/WN_o2cbBU_FRy-OiHgs-FvJUQ
About Mission Ready Solutions Inc.
Mission Ready Solutions provides comprehensive government contracting solutions with extensive experience in delivering quality, reliable, mission-critical products and services for law enforcement, firefighters, first responders, military, and other governmental agencies.
Through its privileged access to a host of federal contracting vehicles, including Multiple Award Schedule ("MAS") contracts awarded and administered by the United States General Services Administration ("GSA"), Mission Ready's wholly-owned subsidiary, Unifire, Inc., leverages its robust vendor network, time-proven industry relationships, proprietary technology infrastructure, and industry-leading manufacturing and distribution capabilities to efficiently source and deliver more than 1.5 million products.
For further information on Mission Ready Solutions Inc., please visit MRSCorp.com or contact investor relations by email at [email protected] or by telephone at +1 877.479.7778 (Ext. 5). You can also subscribe to our mailing list at eepurl.com/hznhX9 to receive our press releases and latest news directly by email.
Mission Ready Solutions Inc.
(Signed "Buck L. Marshall")
Buck L. Marshall
President, CEO and Director
T: +1 877.479.7778
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mission Ready Solutions Inc.
Buck L. Marshall, President, CEO and Director, T: +1 877.479.7778
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