SOURCE: PCS Edventures!.com, Inc.
BOISE, ID--(Marketwire - Nov 15, 2012) - PCS Edventures!.com, Inc., (OTCQB: PCSV) a leading provider of K-16 programs focused on Science, Technology, Engineering and Mathematics (STEM), today announced strong results for its second quarter of FY2013.
The Company reported record results for the quarter ended September 30, 2012 with revenue of $1,308,510, up 73% from the same quarter last year, and net income for the quarter of $99,627 after a charge $128,044 against net income due to the change in fair value of derivatives related to a portion of our debt. Revenue for the six months ended September 30, 2012, were $1,873,542, an increase of 42% compared to the same period in the prior year and cash flow from operations for the six months ended was $150,259.
"The entire company is excited and pleased with the outstanding progress to date this year and we all look forward to continuing this positive trend for our shareholders," Robert Grover, PCS CEO said. "We are excited by these large orders; it is further evidence of the opportunities in the afterschool education market."
The growing STEM education market segment includes national organizations like the YMCA and the Boys and Girls Club that are in need of STEM education solutions. The 21st Century Community Learning Centers Federal Initiative alone grants more than $1.15 billion in funding for these STEM programs annually. PCS targets the global STEM education opportunity through a combination of products and services that help students prepare for success in the 21st century global economy.
Full details have been published in the company's 10-Q posted on November 14th. To learn more about PCS's new and continuing initiatives, visit the PCS Investor News website. http://pcsedu.com/news
About PCS Edventures!
PCS Edventures!.com, Inc. (PCS) designs and delivers educational products and services to the K-16 market that develop 21st century skills. PCS programs emphasize hands-on experiences in Science, Technology, Engineering and Math (STEM) and have been deployed at over 7,000 sites in all 50 United States and 17 foreign countries. Additional information on our STEM products is available at http://www.edventures.com.
PCS Edventures! is headquartered in Boise, Idaho, and its common stock is
listed on the OTC Bulletin Board under the symbol "PCSV."
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, actual results could differ materially from such statements.