CHATSWORTH, Calif., Nov. 24, 2015 (GLOBE NEWSWIRE) -- Provision Holding, Inc. (OTCQB:PVHO) announced today highlights of financial results for the third quarter ended September 30, 2015.
Total revenues were $1.17 million for the quarter ended September 30, 2015, its first fiscal quarter after its June 30 year end, compared to $49 thousand for the similar quarter last year. The Company also reported a net profit of $82 thousand for the quarter ended September 30, 2015, compared to a net loss of $321 thousand for the same period last year. The return to profitability is a direct result of higher gross profit and a gain on the forgiveness of debt partially offset by higher expenses due to increased business activities.
Curt Thornton, CEO and President of Provision Holding commented, “We made tremendous progress this quarter by deploying our 3D Savings Center kiosks into the New York and Los Angeles markets. It is very gratifying to see Provision continue its forward progress and being able to report revenues and profits this quarter.”
For a more complete review of the Company’s results, copies of Provision Holdings financial statements for the quarter ended September 30, 2015 may be found on the Company’s website.
About Provision Interactive Technologies, Inc.
Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (OTCQB:PVHO), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications.
Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high-resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused companies.
Provision Holding, Inc. (OTCQB:PVHO) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements unless legally required.
For more information, visit www.provision.tv.
Contact Media Relations: The Lexicomm Group Wendi Tush Phone : (212) 794-4531 Email : Wendi@lexicommgroup.com
Source:Provision Holding Inc.