Company completes profitable first quarter in spite of global pandemic LOS ANGELES, CALIFORNIA, May 20, 2020GTX Corp (GTXO), a pioneer in the field of health and safety wearable technology and an Industry Wired top company to watch in 2020 today summarized its financial results for the First Quarter ended March 31, 2020. First Quarter Financial Highlights: Product sales increased 63% over 2019 comparable period. Service income increased 31% over 2019 comparable period. Total operating expenses decreased 41% from 2019. Loss from Operations decreased 47% from 2019. Revenues decreased by 6% over 2019 comparable period, however, Company achieved profitability. Management commentary: Patrick Bertagna, GTX Corp, CEO. Like most companies the novel coronavirus disease of 2019 (“COVID-19”) had an impact on our first quarter of 2020. Our supply chains were disrupted and many of the companies we work with, including suppliers, as well as our customers experienced a slowdown in productivity. However, […]
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