SECTOR 5 Reports Second Quarter 2018 Results
Company secures 2nd round of financing $1,500,000
Sector 5, Inc. (OTC: SFIV), a developer, manufacturer and distributor of Chrome and Android OS products and related devices targeting the educational and consumer electronics markets, today reported record financial results for its second quarter ended June 30, 2018. Sales revenue for the three months ended June 30, 2018 soared to a new level of $1,063,769 compared to $275,594 for the three months ended June 30, 2017, representing a $788,175, or 286%, increase. Sales for the quarter reached an all-time high due primarily to a large sale to one of the company’s major electronic products customers. Net loss for the second quarter rose to $774,530 from $49,322 in the corresponding quarter of the previous year.
Sector 5’s Chief Executive Officer Erick Kuvshinikov commented on the company’s record-setting results, “This is Sector 5’s strongest quarter and we currently have prospects for even further improvement in revenues into the third quarter. Even more noteworthy, the Company recently secured a second round of financing of $1,500,000 that is designed to leverage our sales efforts with additional working capital. The Company also started production of its third Google approved Chromebook utilizing an Intel Apollo Lake Quad Core processor with a 10-point touch screen that we expect to be competitive in United States market against major foreign conglomerates.”
The Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018 was filed with the SEC on August 17, 2018, and may be viewed at www.sec.gov.
About Sector 5, Inc.
Sector 5, Inc. is a Nevada corporation, publicly traded (OTC: SFIV), that creates, manufactures and sells Sector 5 branded electronics utilizing Chrome, Android and Windows Operating Systems, focused on the educational and consumer electronics markets. Sector 5 and its manufacturing partners, "best in class" suppliers, and tier-1 designers are working together to combine American ingenuity and China’s manufacturing strengths to create products with the latest technology, innovative features (rugged designs, spill/drop resistant, portable) and fair pricing, exceeding market expectations. Sector 5’s distribution strategy centers on its competitive advantages in the B2B, retail, e-commerce, K-12 and higher education markets. Sector 5’s foundation of success and promise to the world is defined by a pursuit of simplicity and a commitment to innovation. Quality, reliability and excellent customer support is an integral component of that commitment. Further information can be found at www.sector-five.com and sectorfiveblog.wordpress.com.
Phone: (571) 348-1005
Facsimile: (703) 552-2000
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ERRATA: The original version of this press release included a typo “$1,5000,000” in the second paragraph, that has been corrected on this website to “$1,500,000”.