RESULTS OF OPERATIONS COMPARISON OF FISCAL 2005 AND FISCAL 2004 REVENUE:
Revenue for the fiscal year ended June 30, 2005 was $66,694,787 compared to $6,013,930 for the same period in 2004.
For the fiscal year ended June 30, 2005, approximately 97% of our revenue was from EOIR, with 84% from our Omnibus Contract with the United States Army Night Vision and Electronic Sensors Directorate. Revenues from grants related to 3D imaging technology from our newly acquired Genex subsidiary and sales of ACADA products and border security products and services each represented approximately 1.5% of our revenue.
For the fiscal year ended June 30, 2004, approximately 80% or our revenue was from our chemical detection business, including sales of the ACADA product, approximately 16% was from sales of our border security products and services, and approximately 4% was from SBIR grants for the development of our gas plasma antenna technology. Please refer to the section entitled Amortization of Intangible Assets below regarding our gas plasma technology. There was no revenue from EOIR in the year ended June 30, 2005 as EOIR was not acquired until June 29, 2005.
COST OF REVENUES:
Cost of revenues for the year ended June 30, 2005 was $52,846,275, compared to $4,674,593 for fiscal year 2004. Cost of revenues increased year to year as a result of the acquisition of EOIR which accounted for 99% of the cost of revenues.
Gross profits for the year ended June 30, 2005 was $13,848,512 compared to $1,339,337 for fiscal year 2004. Gross profits increased as a result of additional revenue from the acquisition of EOIR
We had a gross profit margin of approximately 21% for the fiscal year ended June 30, 2005, compared to 22% for the year ended June 30, 2004. http://biz.ya hoo.com/e/051012/mrkl.ob10ksb.html
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