DynTek Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2017
DynTek Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2017. The company reported total revenues of $41,495,000 for the third fiscal quarter ended March 31, 2017, an increase of $2,486,000 or 6.4%, from $39,009,000 in the prior year third quarter ended March 31, 2016. This quarter over prior year quarter revenue increase is primarily due to a few large scale transactions in the New York district. The company reported EBITDA of $2,047,000 for the third fiscal quarter ended March 31, 2017, an increase of $1,021,000 or 99.5%, as compared to $1,026,000 in the prior year third quarter which is attributed to the increased sales in the current quarter. Net income was $941,000 for the third fiscal quarter of 2017, or $0.38 per diluted share, an increase of $549,000, 140.1% and $0.12 per diluted share, over the net income of $392,000 and $0.17 per diluted share in the third fiscal quarter of 2016. Income from operations was $1,972,000 against $927,000 for the same period a year ago. Income before income taxes was $1,548,000 against $653,000 for the same period a year ago.
The company reported total revenues of $107,321,000 for the nine months ended March 31, 2017, a decrease of $19,100,000 or 15.1%, from $126,421,000 in the prior nine months ended March 31, 2016. The company reported EBITDA of $3,156,000 for the nine months ended March 31, 2017, a decrease of $700,000 or 18.1%, as compared to $3,856,000 in the prior year nine months. Net income was $1,123,000 for the nine months ended March 31, 2017, or $0.46 per diluted share, a decrease of $450,000, 28.6% and $0.23 per diluted share, from the net income of $1,573,000 and $0.69 per diluted share in the prior nine months ended March 31, 2016.
Income from operations was $2,893,000 against $3,557,000 for the same period a year ago. Income before income taxes was $1,851,000 against $2,622,000 for the same period a year ago.