GTX Corp Reports Third Quarter 2019 Financial Results and Corporate Summary Update
LOS ANGELES, CALIFORNIA, November 18, 2019 GTX Corp (OTCQB: GTXO) (“the Company”), a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services (LBS) and Real-Time Location Systems (RTLS), today announced a summary for the Third Quarter ended September 30, 2019. Third Quarter 2019 Financial Highlights: Revenues for the three months ended September 30, 2019 were approximately $340,000 compared to approximately $195,000 for the comparable period in the prior year for an increase of approximately $145,000, or 74%. Gross Profit Margin for the three months ended September 30, 2019 was 89% compared to 77% for the three months ended September 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, Professional Services and subscription revenue during these periods. Income from Operations for the three months ended September 30, 2019 was $73k as compared to ($227k) for the comparable period in the prior […]