LAMBDA TD SOFTWARE INC - LAMBDA TD Announces Results for Second Quarter of 2013
LAMBDA TD Software Announces Final Results for Second Quarter of 2013
Succeeded in further reduction of LAMBDA's operating costs.
LAS VEGAS (NV), August 1, 2013: LAMBDA TD Software, Inc. (LONDON, GXG Main Quote, Symbol: LAMD, ISIN: US51327T2042, WKN: A1JPCA) today announced financial results for the second quarter of 2013. LAMBDA recorded quarterly Sales of USD $573,088.00, with Gross Profit of USD $526,602.00 and Net Income of USD $433,495.00. LAMBDA was able to further reduce its quarterly operating costs, and managed in the second quarter of 2013 to keep the operating costs below USD $100,000.00, the lowest level in more than 2 years. LAMBDA's Gross Profit for the first 6 months of 2013 reached more than USD $1m, with a total of USD $1,160,184.00, and a Net Income of USD $962,968.00.
Robert Corcoran, Chief Executive Officer comments "Even though our Net Income is the second best in LAMBDA's history, we are slightly below expectations. This is mainly due to a delay of the new North Scottsdale project, which is going through some design and architectural changes and will be split into a 62 unit luxury condo project and a 40 unit project on a newly acquired property near the Mayo Clinic on Shea Blvd. We spent that time ramping up and adding a lot of vital software to our company project management infrastructure and are back on track for a good third quarter as per our forecast to beat last year's annual Net Income."
LAMBDA TD Software in 2012 generated Sales of USD $2,894,829.00, with a Gross Profit of USD $2,582,855.00, and Net Income of USD $2,095,896.00, more than doubling its Net Income of USD $807,108.00 in 2011. LAMBDA is forecasting to beat last year's Net Income figures again and generate its best annual results in 2013, for the third year in a row.
ABOUT LAMBDA TD Software, Inc.
LAMBDA TD Software, Inc. (www.lambdatdsoftware.com) is a Las Vegas Smart Home Automation company that develops and installs the LFE' FIVE (pronounced "Life 5"), the first cloud-based smart home automation and universal remote control platform operated by LAMBDA's patented LFE' touch panel system. LAMBDA was founded in 2006 and provides smart home technology solutions to both commercial and residential customers. The flagship product, LFE' FIVE (LAMBDA FIVE ENVIRONMENT), is the first open system, open architecture remote control system designed for homes, businesses, schools, hospitals, and municipalities. With LFE' FIVE (LAMBDA FIVE ENVIRONMENT) entire high-rise buildings can become connected and turned Green, an approach that is in many U.S. areas supported with government, carbon offset credits, and Green Tax credits. LAMBDA is publicly traded on GXG Main Quote in London (UK), ISIN: US51327T2042, WKN: A1JPCA / TICKER: LAMB. CONTACT: Robert Corcoran at (702) 998-6465 Robert@lambdaTDsoftware.com.
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