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SPEEDEMISSIONS INC (SPMI) is a leading company in the emissions testing industry, providing accurate and efficient testing services for vehicles to ensure environmental compliance. With a strong focus on innovation and customer satisfaction, SPEEDEMISSIONS has established itself as a trusted partner for both individuals and businesses. The company's dedication to sustainability and quality service has led to significant growth and recognition in the market. Through strategic partnerships and cutting-edge technology, SPEEDEMISSIONS continues to expand its reach and enhance its offerings, positioning itself as a key player in the environmental services sector.
Speedemissions, Inc. announced the winners of its Project Planet Young Entrepreneur competition, awarding $100,000 grants to two students with innovative environmental solutions. The company aims to support the next generation of eco-conscious entrepreneurs through mentoring and resources.
Speedemissions, Inc. (SPMI) reported its financial results for Q4 and full year 2022, marking its sixteenth consecutive quarter of positive EBITDA. Revenue rose by 13.2% to approximately $3.8 million for the year, despite the closure and acquisition of stations. Q4 revenue increased by $76,000 to $940,000, supported by 9.5% growth in Atlanta stores. However, operating expenses and general administrative costs also increased by 5.7% and 11.2%, respectively. The company posted net income of $90,000 in Q4, up $26,000 from the prior year, and $392,000 for the year, reflecting an adjusted net income growth of 23.1%.
Speedemissions, Inc. (SPMI) reported a 14.7% year-to-date increase in same-store sales and a net income of $292,700 for the nine months ended September 30, 2022. Revenue rose to approximately $2.86 million, driven by a 14.7% increase in sales across its locations. However, net income for the third quarter fell to $13,000, down $117,000 year-over-year, influenced by higher operational and administrative costs. The company is exploring opportunities for margin expansion and profitability enhancement.
Speedemissions, Inc. (OTC Markets Expert Market: SPMI) reported a net income increase of over 66% for the fourth quarter of 2021, attaining approximately $91,000, marking a 13.75% growth year over year. The company generated revenue of approximately $864,000, a 12.3% increase in same-store sales in Atlanta, and a 67.6% rise in St. Louis. Total annual revenue reached $3,359,000, a 2.4% increase. This marks the company’s twelfth consecutive quarter of positive EBITDA, demonstrating solid operational progress and a commitment to potential revenue diversification.
Speedemissions, Inc. (SPMI) announced its third-quarter financial results for 2021, showing a revenue increase of $30,000 to $901,000 compared to the same quarter in 2020. This growth is attributed to a 4% rise in same-store sales across Atlanta and St. Louis. Net income rose to $217,000, influenced by $88,000 in other income from account adjustments. Year-to-date revenues slightly declined by 0.6% to $2,496,000 due to a store closure. However, general and administrative expenses decreased by 9%, contributing to reduced overall expenses by 13.5% compared to the previous year.
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