Consolidated revenue for the quarter increased 24% to $4.9 million from $4.0 million for the same period last year. Pretax income from continuing operations was $123,000 for the quarter compared to a pretax loss from continuing operations of $295,000 in the comparable period last year.
Consolidated net income from continuing operations for the quarter was $109,000 or $0.04 per share on a fully diluted basis, compared to a net loss from continuing operations for the same period last year of $156,000 or $0.07 per share on a fully diluted basis.
We are very pleased with the results of this quarter, stated Glenn Nortman, CEO of 5B Technologies Corporation. We have maintained profitability and 5B Technologies Group continues to lead the company in revenue and net income growth. The business model and corporate environment that we have been developing for 5B Technologies Group is beginning to reward us and our investors with solid growth through market expansion and penetration as well as sustained profitability.
5B Technologies Group Inc. recorded record revenue of $3.1 million for the quarter, an increase of 55% compared to $2.0 million in revenue recorded in the comparable period last year. Pretax income was $272,000 compared to $2,000 in pretax income for the third quarter of the prior year. The results reflect the subsidiary’s growth over the last year in the areas of Internet development and professional services.
