Dalrada Financial Corporation Announces 2020 Audited Financial Result

Rhea-AI Summary

Dalrada Financial Corp. (OTC Pink: DFCO) reported a remarkable growth of 1,532% in total revenues for the fiscal year ending June 30, 2020, achieving $1,178,154 in revenues compared to $72,155 in 2019. Gross profits also rose to $552,238. The surge in performance is attributed to sales of GlanHealth's sanitizing products, Prakat Solutions' expansion in software development, and new orders from Dalrada Precision. The company aims to enhance transparency by filing periodic reports with the SEC.

Positive

• 1,532% year-over-year revenue growth.
• Achieved total revenues of $1,178,154 compared to $72,155 in the previous year.
• Gross profits increased to $552,238.
• Expansion into new U.S. markets and existing customer orders contributed to growth.

Negative

• None.

SAN DIEGO, Oct. 16, 2020 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) announces the Company's audited financial results, confirmed by a third party PCAOB registered certified public accounting firm (dbbmckennon), for the twelve month period ending June 30, 2020 with growth of 1,532% year-over-year.  Dalrada achieved $1,178,154 Total Revenues with Gross Profits of $552,238 for fiscal year 2020 - this is compared to prior year results of $72,155 total revenues in fiscal 2019.  "This is one step closer to filing periodic reports and audited financial statements with the SEC, making it easier for investors and shareholders to find current, reliable information about our company. This has been our goal and we are looking forward to the future of our organization and what we are able to offer globally," said Brian Bonar, CEO of Dalrada.

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. 

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 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 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.

Disclaimer

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. 

View original content:http://www.prnewswire.com/news-releases/dalrada-financial-corporation-announces-2020-audited-financial-result-301153909.html

SOURCE Dalrada Financial Corp.

FAQ

What were Dalrada Financial Corp.'s total revenues for 2020?

Dalrada Financial Corp. reported total revenues of $1,178,154 for the fiscal year ending June 30, 2020.

How much did Dalrada's revenues grow compared to the previous year?

Dalrada's revenues grew by 1,532% compared to the previous fiscal year.

What was the gross profit for Dalrada Financial Corp. in 2020?

Dalrada Financial Corp. achieved a gross profit of $552,238 for the fiscal year 2020.

What factors contributed to Dalrada's revenue increase in 2020?

The increase was driven by sales of GlanHealth's sanitizing products, expansion of Prakat Solutions, and new orders for bespoke parts from Dalrada Precision.