CARLSBAD, CA / ACCESSWIRE / July 27, 2021 / WeShield, a wholly-owned subsidiary of OPTEC International, Inc. (OTC PINK:OPTI), posted YTD revenues of $40 million with EBIDTA of $6.7 million, or 17% of revenue. Q2 revenues for WeShield finished at $19.2 million with EBIDTA of $3.5 million or 19% of revenue.
2020 audited financials for WeShield were recently released showing the company generated $59 million in revenue with an EBIDTA of $5.6 million or about 10%. The Company reports growth in both the PPE and medical supply sector with additional long-term contracts signed and expects an impact from the DELTA variant to be realized later this year. Further profits from economies of scale, like warehousing and logistics, consolidating the marketing, sales, accounting, and legal departments will also be realized in late 2021.
In addition, the Company expects further long term growth from the following initiatives:
- The launch of the “WeShield Together” group purchasing division
- Increase in long term distribution agreements with health care organizations and Fortune 500 companies
- Medical and non-medical staffing
- Growth into the health care sector, including contracts for mobile COVID testing and vaccinations
- Full integration of OPTEC suite of products into WeShield's marketing and sales division
- Additional strategic board members and advisors will be added to WeShield's current board
- Expected mergers, acquisitions, and joint ventures over the next 18-24 months
OPTEC CEO, Roger Pawson, commented “We are extremely excited about WeShield's growth and with what they will bring to OPTEC, and we look forward to seeing them expand in years to come.”
WeShield CEO Michael Sinensky commented, "The big takeaway here is growth. As expected, we are not only growing, but we are also operating more efficiently in our second year of WeShield. Our numbers show that we have profited more in just two quarters of 2021 than all of the previous year. Our profit percentage was also 50% higher these two quarters. Last year we were new to this space following a successful pivot from the hospitality industry destroyed by the pandemic, but now we are no longer green, yet our numbers appear to be getting greener."
About WeShield
WeShield is deeply ingrained in the wholesale medical industry, supplying PPE safety products to customers, including GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more.
About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The Company's Safe-Scan product line is launching when HR directors and facilities managers are experiencing an extreme concern for keeping environments safe during the global pandemic crisis and the safe reopening of the US economy. For more information, visit www.optecintl.com.
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management “believes,” “expects,” “anticipates," “foresees,” “forecasts,” “estimates,” or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
OPTEC International, Inc.
Michael Iorlano
760 621-0062 / Mike@MountaintopMedia.net
SOURCE: Optec International, Inc.
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