Orlando, FL 11/21/11 (StreetBeat) -- Phototron Holdings, Inc. (OTCBB: PHOT.OB), the designer, manufacturer and seller of the innovative PHOTOTRON Hydroponic Indoor Grow System, today announced the availability of its third quarter 2011 financial results for the period ending September 30, 2011.Phototron Holdings reported a third quarter 2011 revenue increase of 127% compared to the third quarter of 2010. Third quarter 2011 revenue was approximately $210,000 compared to $92,000 in the third quarter of 2010. The increase in revenue is the result of management focusing its efforts on expanding Phototron’s marketing activities, and development and launch of new product lines. Phototron intends to further market its products to the public via its new internet initiatives in the fourth quarter. Net loss for the third quarter of 2011 was $2.8 million compared to net income of approximately $38,000 for the third quarter of 2010. The net loss in the third quarter of 2011 was primarily non-cash charges attributable to the vesting of stock options and restricted stock issued for services.
“Phototron is pleased to announce our third quarter 2011 financial results,” said Brian Sagheb, Phototron’s CEO. “This quarter represented an exciting and transformative period in Phototron’s development as we begin to realize some of the benefits of our past growth initiatives after laying much of the necessary groundwork in the first two quarters of the year. After investing heavily in our restructuring, realignment, and new product development Phototron is now starting to capitalize on our strong foundation and effectively monetizing on our new marketing models. With Mike Zappy 'The Internet Warrior' as our recently appointed Chief Internet Strategist our new online sales initiatives are expected to begin generating results starting in December.”
Third Quarter 2011 Highlights
Launched new ECO-Brain Home Hydroponic Automated Controller.
Launched new T5 PHOTOTRON Hydroponic Grow System.
Achieved 127% quarterly year over year sales growth.
Established consumer financing program for PHOTOTRON Indoor Grow System.
Announced new online sales initiatives with the appointment of renowned social media expert Mike Zappy as Chief Internet Strategist.
Management’s recent comprehensive R&D initiatives have positioned PHOTOTRON Systems to be the market leader in the indoor hydroponic gardening market, with new advanced technologies not found in any other personal growing systems. Enhancements to the entire product line and the new PHOTOTRON Pro Series incorporates the latest in fluorescent and LED lighting technologies and a new patent pending ECO-Brain Controller, which constantly monitors temperature, humidity and water levels to maximize growth and crop yield.
Phototron is capitalizing on the rapidly increasing demand for organic produce and alternative medicine. The company is committed to further establishing itself as a leader in the sale of indoor mini-greenhouses and will continue to develop its proprietary technology and nutrients while expanding its global reach through a series of organic growth opportunities and marketing advancements.
Phototron’s new online sales model will complement Phototron’s previously implemented direct sales initiatives, which were implemented in June and are expected to serve both the $30 billion home gardening market and the $1.7 billion medical marijuana community. The company continues to position itself as it relates to ever changing governmental cannabis policies. Consumers can realize significant financial savings, convenience and quality of all fruits, vegetables, herbs and medicines, with PHOTOTRON’s range of products across these market segments.
Craig Ellins, Phototron’s Chairman, concluded, “PHOTOTRON has enjoyed strong brand status in the indoor gardening circles for the past 20 years; however, now is the time to introduce the technology to the masses. As we adopt a comprehensive new online marketing strategy we look forward to sharing details on our growth as we move into 2012 and beyond.”
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