Desert Control AS (DSRT) has released its first-quarter report for the fiscal period ending 31 March 2024, showcasing a strong start to the year. The company achieved significant milestones, including the successful commercial deployment for Limoneira Company in Yuma, Arizona, and the execution of a substantial first-phase contract in the Middle East through its partner, Mawarid. Desert Control has also been making strides in developing and adapting its technology to expand markets, increase environmental benefits, and reduce costs.
Financially, Desert Control closed Q1-24 with a positive cash balance of NOK 105.1 million and no interest-bearing debt. Key financial highlights for the first quarter of 2024 include a revenue of NOK 1.3 million, an EBITDA of NOK -14.7 million, and a net income of NOK -7.8 million. The total cash balance as of 31 March 2024 was NOK 105.1 million, with equity at NOK 115.4 million and an equity ratio of 96.7%.
It is important to note that forward-looking statements have been made in the report, cautioning that actual results may differ from projected outcomes due to various risks and uncertainties inherent in the industry and markets in which Desert Control operates. The company’s performance and results are subject to change without notice, and reliance solely on forward-looking statements is not recommended.
For more information, please contact Kristian Sivertsen, the President, and Group CEO at Desert Control, or Leonard Chaparian, the Chief Financial Officer. Contact details can be found on the company’s website.
Desert Control’s Q1-24 report provides valuable insights into the company’s progress and financial standing, demonstrating its commitment to innovation and growth in the market. For the complete report and year-to-date update, visit the company’s official website.
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