{"id":453677,"date":"2021-03-09T08:33:19","date_gmt":"2021-03-09T13:33:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453677"},"modified":"2021-03-09T08:33:19","modified_gmt":"2021-03-09T13:33:19","slug":"skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/","title":{"rendered":"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <strong><br \/>\n          <em>Increased sales result in 4.4% revenue growth and strong cash position for future growth.<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p>Mississauga, Ontario, March  09, 2021  (GLOBE NEWSWIRE) &#8212; via <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fKq_EPh9_EQ5y5BrgkEU08Jd4m_9p-LtuWA44Pc2rjBY3JmUJbW1s2VMXNlgyGJmDmrtdhGNiH0dvp-fyFMoml8gs9AwZSVqZkpMnyjWxrw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>NewMediaWire<\/u><\/a> &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=abZVWelr7g92txMr4UGZqry5hyGB79lhAVyRqOOJC7Ms8whFiI0vqE87cuOuPpScSAzudAirKrkuEsTtPgCF5rEDENEix2DtRT5415wwy3w=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Skkynet Cloud Systems, Inc.<\/a>\u00a0(\u201cSkkynet\u201d or \u201cthe Company\u201d) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended January 31, 2021.\u00a0 The Company reported a record first quarter revenue of US$438,066 compared to $419,482 for the same period in 2020, which marks a 4.4% growth in sales, all during industry-wide slow-downs due to COVID-19 disruptions. \u00a0Loss from operations for the 3-month period was $10,581 compared to a loss of $12,271 for the same period in 2020.<\/p>\n<p>\u201cSkkynet\u2019s Q1 2021 results maintain our positive revenue growth, notable considering the same quarter in 2020 represented 60% growth over the same period in 2019.\u00a0 We continue to maintain a robust cash position for further growth in 2021,\u201d stated Andrew Thomas, CEO.\u00a0 \u201cThe outlook for 2021 is excellent; we remain positive and expect to accelerate our growth through the remainder of the year due to regulatory and corporate mandates for secure access to industrial data in response to the world-wide pandemic.\u201d<\/p>\n<p align=\"start\">\u201cWe have continued to focus on building new partnerships in industry, especially in the Asia region, which has not seen the same slowdown as North America and Europe,\u201d said Paul Thomas, President of Skkynet.\u00a0 \u201cWith our new channel partner in China, Beijing Hongxin Zhaoyang Technology Co., Ltd., we now have sales and support coverage in the largest Asian market, in addition to Servo Dynamics with coverage in Singapore, Taiwan, Philippines, Malaysia, Indonesia, Thailand, Vietnam, Burma, and Cambodia.\u00a0 We are seeing very strong interest from within the APAC region.\u201d<\/p>\n<p align=\"start\">Skkynet\u2019s products and services\u2014DataHub for in-plant, SkkyHub for cloud, and ETK for embedded devices\u2014provide secure access to industrial data through open, standard industrial protocols, allowing users to fully integrate OT with IT systems and other applications anywhere in the world. \u201cSecure-by-design\u201d, Skkynet\u2019s solution requires no VPN, no open firewall ports, no special programming, and no additional hardware. Secure integration of embedded devices, on-premise systems, and remote locations through seamless, end-to-end connectivity in real time lets users derive maximum value from Industrial IoT and Industrie 4.0. \u00a0For more information, visit:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2_Lt3ryfhfBzAcM5RNGTwbLKpysyJJtJc2Q-ueSrBesO6EQfIrf89g8XTqUdiGm512jfDEi1-ghGi8ciA6OPZvOVR55d5p3OCqr-1D5z6EePjK4IF31KxO7ndn6O2bVi\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/skkynet.com\/investors\/<\/a><\/p>\n<p align=\"start\">\n        <strong>About Skkynet<\/strong>\n      <\/p>\n<p align=\"start\">Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SEIQebDEWH-Tv8q3pR7YA5rL3swpnHSJyrSMyk_Of8hTrfB1-84t3JZItdwK_Ozi0DppZcgWKJ_KBRoFKG95-Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">SkkyHub\u2122<\/a>\u00a0service,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iOVhlYMR-Ll-E9gpLGSG-3_3bYwsefLKsALJBGVQvIVbwJI6LxsZt3roKzTnzmfqquwtKeVTcp0ya-kEy78q7g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">DataHub\u00ae<\/a>\u00a0middleware, and\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=oJt9kjw0xNupIci-4wBYWJZHhNKdJ92PLNCy8tINuBfLs4Kt7Jyvzs-oiSCJuvqGw46tSz7jElPsvpXZFmIA3wYKPINod8isKzFuL2VOkAE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Embedded Toolkit (ETK)<\/a>\u00a0software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet\u2019s platform is uniquely positioned for the \u201cInternet of Things\u201d and \u201cIndustry 4.0\u201d because unlike the traditional approach for networked systems, SkkyHub is secure-by-design.<\/p>\n<p align=\"start\">\n        <strong>Safe Harbor<\/strong>\n      <\/p>\n<p align=\"start\">This news release contains \u201cforward-looking statements\u201d as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Skkynet assumes no obligation to update the forward-looking statements. Although Skkynet believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Skkynet\u2019s annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.<\/p>\n<p align=\"start\">\n        <strong>Contact<\/strong>\n      <\/p>\n<p align=\"start\">Skkynet Cloud Systems, Inc.<br \/> Paul E. Thomas, President<br \/> Tel: (888) 702-7851<br \/> Web:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2_Lt3ryfhfBzAcM5RNGTwUEkMjn7ViG9Ht702nxIE5z59qLtIa1wpbRWaImHEuzVUpYfw_XXF6CtQ6_KnWvuiw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/skkynet.com<\/a><br \/> Email:\u00a0ir@skkynet.com<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjU5NSM0MDU0NjI2IzUwMDA1MTA3NQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/a98f1fd8-34d7-48f6-bb6b-21bf382948c0\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Increased sales result in 4.4% revenue growth and strong cash position for future growth. Mississauga, Ontario, March 09, 2021 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Skkynet Cloud Systems, Inc.\u00a0(\u201cSkkynet\u201d or \u201cthe Company\u201d) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended January 31, 2021.\u00a0 The Company reported a record first quarter revenue of US$438,066 compared to $419,482 for the same period in 2020, which marks a 4.4% growth in sales, all during industry-wide slow-downs due to COVID-19 disruptions. \u00a0Loss from operations for the 3-month period was $10,581 compared to a loss of $12,271 for the same period in 2020. \u201cSkkynet\u2019s Q1 2021 results maintain our positive revenue growth, notable considering the same quarter &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-453677","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Increased sales result in 4.4% revenue growth and strong cash position for future growth. Mississauga, Ontario, March 09, 2021 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Skkynet Cloud Systems, Inc.\u00a0(\u201cSkkynet\u201d or \u201cthe Company\u201d) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended January 31, 2021.\u00a0 The Company reported a record first quarter revenue of US$438,066 compared to $419,482 for the same period in 2020, which marks a 4.4% growth in sales, all during industry-wide slow-downs due to COVID-19 disruptions. \u00a0Loss from operations for the 3-month period was $10,581 compared to a loss of $12,271 for the same period in 2020. \u201cSkkynet\u2019s Q1 2021 results maintain our positive revenue growth, notable considering the same quarter &hellip; Continue reading &quot;Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T13:33:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjU5NSM0MDU0NjI2IzUwMDA1MTA3NQ==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook\",\"datePublished\":\"2021-03-09T13:33:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/\"},\"wordCount\":626,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NjU5NSM0MDU0NjI2IzUwMDA1MTA3NQ==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\\\/\",\"name\":\"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook - 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Mississauga, Ontario, March 09, 2021 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Skkynet Cloud Systems, Inc.\u00a0(\u201cSkkynet\u201d or \u201cthe Company\u201d) (OTCQB: SKKY) is pleased to announce its quarter-end operating and financial results for the period ended January 31, 2021.\u00a0 The Company reported a record first quarter revenue of US$438,066 compared to $419,482 for the same period in 2020, which marks a 4.4% growth in sales, all during industry-wide slow-downs due to COVID-19 disruptions. \u00a0Loss from operations for the 3-month period was $10,581 compared to a loss of $12,271 for the same period in 2020. \u201cSkkynet\u2019s Q1 2021 results maintain our positive revenue growth, notable considering the same quarter &hellip; Continue reading \"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-09T13:33:19+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjU5NSM0MDU0NjI2IzUwMDA1MTA3NQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook","datePublished":"2021-03-09T13:33:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/"},"wordCount":626,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjU5NSM0MDU0NjI2IzUwMDA1MTA3NQ==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/skkynet-announces-q1-2021-financial-results-and-reiterates-positive-outlook\/","name":"Skkynet Announces Q1 2021 Financial Results and Reiterates Positive Outlook - 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