If you have looked into the premarket action in the markets today then you might have noticed that the ToughBuilt Industries Inc (NASDAQ:TBLT) stock is in the middle of a rollicking rally and has already clocked gains of as much as 45%.
ToughBuilt Industries Announces Fourth Quarter and Full Year 2021 Results
Yesterday, the company was in the news after it announced its financial results for the fourth fiscal quarter and the fiscal year, both of which ended on December 31, 2021. In this situation, it may be a good time for investors to perhaps take a closer look at some of the highlights from the financial results.
The company managed to bring in revenues to the tune of as much as $70 million for the fiscal year and that reflected a year on year rise to the tune of as much as 77.6% from the prior year period. The company also noted that the considerable rise in revenues was primarily due to the fact that products from ToughBuilt had found wide acceptability.
The company not only managed to add new customers but also managed to get recurring orders from the existing ones. The gross profits for the year came in at $19.1 million and that was higher than the gross profits of $12.9 million in 2020.
Technical Data
TBLT stock is trading below the 20-Day and 50-Day Moving averages of $0.17 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.42.
