Bluedrop Performance Learning (TSX-V: BPLI) has reported its financial results for the quarter ended March 31, 2018, the company said.
Revenue for the three months ended March 31, 2018 was USD 6.1 million, down from USD 6.9 million for the same period in the previous year, a decrease of 11%. Gross profit for the period was USD 2.3 million, a decrease of USD 0.3 million over the three-month period ended March 31, 2017.
Pre-tax loss was USD 0.2 million for the current quarter compared to profit of USD 0.8 million for the same period in the previous year. After tax loss for the three months ended March 31, 2018 was USD 0.1 compared to a USD 0.4 million profit for the same period in the previous year.
Revenues decreased in the second quarter this year compared to the same period last year due to slightly lower revenues in the Training and Simulation business unit and the Learning Networks business unit. Gross profit remained strong in the quarter at USD 2.3 million down from the comparative quarter in the previous year based on lower revenues as explained above.
Expenses for the quarter were up USD 0.7 million from that of the same quarter in the previous year. Government assistance and other funding in the quarter was down by USD 0.7 million as a result of higher prior year assistance related to development of the Chinook Rear Crew Mission Trainer in fiscal 2017.
Bluedrop is an innovator in both the development of workplace e-learning and simulation as well as the way large organizations deliver, track and manage training. For more information, visit www.bluedrop.comâ©