Paradigm Solutions has presented financial stats for the third quarter, reporting revenues of $8.1 million with a gross profit of $2 million.
CEO Peter LaMontagne said the company was pleased with its financial results for the third quarter and the positive progress it has made through the implementation of strategic initiatives.
“Nearly all of our financial indicators were positive this quarter as we achieved revenue growth compared to last year, expanded our gross margins in order to drive EBITDA margins of 9 percent of revenues and maintained net debt at slightly less than $3.0 million,” he said. “In addition, continued expansion on existing contracts and new task order wins allowed us to once again achieve a book-to-bill above 1.0x. Finally, we continued to submit additional proposals that we hope will enable us to continue our growth prospects over the longer-term.“