Aberdeen Reports Q1 Revenues Of $4.0 Million, Net Income Of $3.3 Million
Aberdeen International (TSX: AAB) this morning released its first quarter financial results. The company reported total revenue of $4.0 million, along with a net income of $3.3 million for the three month period ended April 30, 2021.
Revenue during the quarter was comprised of $3.9 million from net investment gains, while $0.1 million came from interest income. Revenue was up significantly from the year ago period, wherein the company reported revenues of $1.8 million, with a net income of $1.6 million.
Expenses during the quarter meanwhile amounted to $0.7 million, comprised largely of operating, general and administrative expenses. The company as a result posted a net income of $3.3 million for the three month period.
Looking to the balance sheet, the company has seen notable improvements in its assets. While public investments fell from $10.6 million to $9.2 million, the company saw its private investments rise in value from $17.7 million to $27.2 million. The rise in value follows the successful Nasdaq IPO of Flora Growth Corp. The company also saw success in its recent investment in AMMPower Corp, as well as a rise in value of Brazil Potash.
The company also indicated this morning that it remains focused on clean energy, with a focus on the hydrogen space.
Aberdeen International last traded at $0.265 on the TSX.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
