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PHOENIX, Aug. 23, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alpine 4 Technologies Ltd. (OTCQB: ALPP) today announced financial results for its 2nd Quarter, ending June 30, 2018. The company posted quarterly revenue of $5.08 million, which is growth of 37% over Q1 2018 revenue of $3.69 million.
Kent B. Wilson, CEO of Alpine 4, had this to say: "This quarter's results speak volumes to the vision of the Alpine 4 DSF business model which resulted in another stellar milestone for the company. We grew both organically and from our most recent addition American Precision Fabricators, Inc. which we acquired on April 5th, 2018. Further, it has been a long held belief of mine that our greatest competitive advantage resides in our highly diversified but synergistic business structure. Our ability to cross-leverage resources, capital, production and product offerings across subsidiaries, gives Alpine 4 and its holdings a truly unique ability to compete in every market segment we operate in, which was abundantly evident in our Q2 2018 earnings."
Earnings by Subsidiary Breakdown:
Quality Circuit Assembly (QCA): QCA's electronics contract manufacturing sales accounted for 49% of Alpine 4's quarterly revenue with $2.49 million. This revenue was accompanied by an 82% net profit growth over Q1 2018. QCA's strong growth was tied to higher gross profit in Q2 vs. Q1 2018. This gross profit growth was attributed to strong demand for some of our most profitable products and services from our fortune 500 clientele.
American Precision Fabricators (APF): APF's sales accounted for 19% of Alpine 4's quarterly revenue with $961k.
Venture West Energy Services (VWES): VWES's sales accounted for 29% of Alpine 4's quarterly revenue with $1.49 million.
ALTIA: ALTIA sales accounted for 3% of Alpine 4's quarterly revenue.
Alpine 4 is providing the following revenue guidance for its Q3 2018:
Anticipated revenue between $4.3 million and $4.6 million: Alpine 4 is expecting Q3 growth for Quality Circuit Assembly and American Precision Fabricators. Alpine 4 expects to see revenue slightly decrease for Venture West Energy Services in Q3 due to a pause in our customer's production schedules during the months of July and early August.
About Alpine 4 Technologies:
Alpine 4 Technologies, Ltd (ALPP) is a publicly traded conglomerate that is acquiring businesses that fit into its disruptive DSF business model of Drivers, Stabilizers, and Facilitators. At Alpine 4 we understand the nature of how technology and innovation can accentuate a business. Our focus is on how the adaptation of new technologies even in brick and mortar businesses can drive innovation. We also believe that our holdings should benefit synergistically from each other and that the ability to have collaboration across varying industries can spawn new ideas and create fertile ground for competitive advantages. This unique perspective has culminated in the development of our Blockchain enabled Enterprise Business Operating System called SPECTRUMebos.
View Alpine 4's profile here: https://www.ldmicro.com/profile/alpp
The information disclosed in this press release is made as of the date hereof and reflects Alpine 4's most current assessment of its historical financial performance and its future revenues. Actual financial results may differ from those contained herein. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors that the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.