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SALT LAKE CITY, May 13, 2021 /PRNewswire/ Co-Diagnostics, Inc.
(NASDAQ: CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced today financial results for the first quarter ended March 31, 2021.
First-Quarter 2021 Financial Results:
Strong quarterly results highlighted by revenue of $20.0 million, pre-tax income of $9.9 million, diluted EPS of $0.26
Revenue of $20.0 million, primarily due to sales of the Logix Smart™ COVID-19 Test
Gross profit increased to $16.8 million, representing 83.7% of consolidated revenue due to improved product mix as compared to the prior-year period
Operating income improved to $10.3 million over an operating loss in the prior-year quarter, due to continued strong revenue and gross profit
Indian Army troops to get Israeli LMGs! More Carbines, Light Machine Guns, and Rifles to be imported Huma Siddiqui © Provided by The Financial Express The defence arm of the company focuses on manufacturing weapons and weapon systems; in particular small arms, ammunition, high-end optics and firearm accessories and tactical gear for military and law enforcement. (Image: SSS Defence)
To modernize its infantry and Special Forces, the India Army which is the world s largest importer of small arms is expected to import Carbines, Light Machine Guns, and Rifles. It is expected to cost around Rs 3500 crore.
Why Imports?
The Ordnance Factory Board has not been able to deliver a weapon which is suitable for the use of the Indian Army. It has failed in helping the Indian Army replace its old weapons being used by the infantry which were introduced decades ago.