Dalrada Financial Corporation Announces 2020 Financial Results (Unaudited)
SAN DIEGO, Sept. 9, 2020 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) announces the Company's financial results for the twelve month period ending June 30, 2020 with growth of 1,602% year-over-year. Dalrada achieved $1,228,604 Total Revenues, and a 43% Gross Profit Margin for fiscal year 2020 - this is compared to prior year results of $72,155 Total Revenues in fiscal 2019. The Company will report a net loss due to increased research & development costs, capital expenditures towards production & warehousing facilities, manufacturing of finished goods, inventory and equipment purchases, and marketing of products and services. In the fourth quarter of 2020 ending June 30th, the company recorded $827,797 Total Revenues as compared to $351,324 recorded in the previous quarter ending March 31, 2020.
The increase in performance resulted from distribution and consumer sales of GlanHealth's alcohol-free sanitizing products and services, Prakat Solutions' expansion with existing customers and new U.S. opportunities in software and mobile application development services, and Dalrada Precision's addition of bespoke parts with existing customers including new customer orders. Dalrada will release audited financials in approximately three weeks from this announcement.
Dalrada Health's primary focus is solving world health problems. The GlanHealth™ revolutionary line of alcohol-free sanitizing products include:
Hand Sanitizer Foam, Wipes and Spray
Advanced Sanitizing Soap
All Purpose Advanced Surface Cleaner
Antimicrobial Wound & Skin Therapy
Mold and Mildew Sanitizing & Prevention
Laundry Sanitizing & Deodorant
As stated in Dalrada's previous corporate announcement, GlanHealth feels that companies that take shortcuts are short lived – especially newcomers to the sanitizing industry. GlanHealth™ is fulfilling increased global business and consumer demand for alcohol-free sanitizing solutions. GlanHealth™ is committed to following a strategic approach to building a sustainable business model based on purity and consumer trust.
DALRADA PRECISION – Dalrada Precision is focused on the development of products that allow for design, engineering, manufacturing, and distribution on a global scale. Dalrada Precision helps realize ideas from concept and delivery to after sales service, offering unique and specific solutions. At all levels and all verticals of its operations, Dalrada Precision's mandate is the development of products that lessen the burden on engineering design, manufacturing processes, regulatory demands, cost, and distribution.
Dalrada Precision produces its precision parts in Malaysia supplying assembly parts to OEM manufacturers. Dalrada Precision's overseas production capabilities and supply chain partnerships presents a significant cost-savings to domestic components and parts sourcing.
PRAKAT SOLUTIONS – Prakat Solutions Inc. (Prakat) is a technology solutions company specializing in Test Engineering, Accessibility Engineering, Product Engineering, and Application Modernization. Prakat partners with its clients to create a transparent, value-based relationship, leveraging the extensive experience of its team to provide innovative solutions in a wide range of technology domains that enable customers to successfully attain their business goals.
A provider that is committed to empowering individuals with disabilities, the areas of focus in this line of services include assistive and adaptive technologies, testing and automation, accessibility readiness, accessibility engineering, and legal compliance of accessibility standards (W3C and other country-specific regulations such as the American Disabilities Act (ADA), British Standard 8878 (BS 8878), and the Canadian AODA).
About Dalrada Precision
A subsidiary of Dalrada Financial Corp., Dalrada Precision has been focused on solution-based engineering and the customer experience from day one. By continually delivering on its promises, the Company has created trust while building mutually-successful long-term relationships.
Dalrada Precision is a team of highly trained and committed individuals. The company takes pride in solving the unique challenges of its customers and constantly improves and enhances its machining and manufacturing capabilities, ultimately becoming a key strategic partner of many businesses. For more information, please visit www.dalradaprecision.com.
About Dalrada Health
A subsidiary of Dalrada Financial Corp., Dalrada Health is focused on solving health problems around the world. The company develops products and services that address the unmet needs of consumers due to accessibility, affordability, or availability. With operations in the U.S., Malaysia, and India, Dalrada Health can reach underserved markets through strong partnerships and the development of efficient supply chains. Dalrada Health is committed to solving universal health problems through improved methodologies resulting in products and services that benefit the global marketplace. For details, visit www.dalradahealth.com For information on GlanHealth™ visit www.glanhealth.com
About Prakat Solutions
Prakat Solutions Inc. is a technology solutions company specializing in test engineering, accessibility engineering, product engineering, and application modernization. The company partners with clients to create transparent, value-based relationships by leveraging the extensive experience of its team and by providing innovative solutions in a wide range of technology domains that ultimately enable customers to successfully attain their business goals. The Prakat work culture is based on the belief that, "we believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune 1000 customers. With its main engineering center in Bangalore, India, the company also has offices in Dallas, Texas, Denver, Colorado, and San Diego, CA. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com.
About Dalrada (DFCO)
Dalrada Financial Corp. (OTC Pink: DFCO) solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"
, including its annual report on Form 10-K.
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SOURCE Dalrada Financial Corp.